Closing Bell Overtime: Silicon Valley Bank Pain Hits Regional Banks Despite Rescue From Regulators; Venture Capitalist David Sacks on Whats Next 3/13/23
While the Dow and S&P 500 closed lower, Nasdaq ended higher despite a volatile session for stocks, coming after U.S. regulators unveiled a plan to backstop depositors in Silicon Valley Bank. Regional banks were hit especially hard with First Republic falling 60%. Fundstrat\u2019s Tom Lee still sees the setup as constructive in the medium-term. Venture capitalist David Sacks, after a weekend on Twitter calling for government intervention, discusses what\u2019s next for Silicon Valley, startups and the broader economy. Plus, one beneficiary of the situation: Brex, which has seen inflows since Friday. The CEO talks the impact on his business. And a lookahead to tomorrow\u2019s critical inflation report.