Banking contagion more 'psychological' than 'systemic': strategist
The collapse of Silicon Valley Bank is causing panic through the financial sector and unleashing chaos across the globe. Liz Ann Sonders joined Yahoo Finance to discuss the possibility of contagion spreading within banking sector.
Sonders explains how she thinks social media played a role in this week's bank crises saying, "social media can fuel a bank run and everybody is scrambling to try to get the accurate story."
All three major indices $DJI, $IXIC, $GSPC closing in the red on Friday, March 14th.
Watch the full interview with Seana Smith and Ines Ferre here.
Key video moments
00:00:01 - "Social media can fuel a bank run"
00:00:28 - On Fed loans
00:01:28 - Why this isn't like 2008