The sudden has sent financial markets into a frenzy, as experts warn it may not be a 'one off' and brace for the next domino to fall. regulators pushed it into crisis, causing the largest US bank failure since the 2008 Great Recession. The ripple effect has already hit similar institutions, such as New York's Signature Bank, which saw its share price plummet 23 percent before trading was halted when the news of SVB's demise came in.
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