*DOW SUFFERS WORST WEEK SINCE JUNE AS SILICON VALLEY BANK COLLAPSE RATTLES WALL STREET - $DIA $SPY $QQQ
Some expect the collapse of the SVB to sway the Fed's thinking on monetary policy as it is the first sign of something breaking following the aggressive pace of rate hikes.
"It [the SVB collapse] is the first thing that has broken," Will Rhind, CEO and Founder of GraniteShares told Investing.com’s Yasin Ebrahim in an interview Friday."The Silicon Valley Bank, the 18th largest bank in the U.S. wasn't a tiny, insignificant institution and the collapse was a direct consequence of rising rates."
Investors reined in the bets on a 50 basis points rate hike in March to 38% from nearly 80% earlier this week, according to Investing.com’s The turmoil in banks triggering worries about a systematic banking crisis forced investors to rethink their bets on larger rate hikes at the Federal Reserve’s March meeting even as job gains in February topped estimates.
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