Silicon Valley Bank's fall widens systemic cracks as cheap money vanishes

Data shows 89% of Silicon Valley Bank's $175bn (€164.2bn) in deposits were uninsured.

Cracks are appearing in the global financial system as the decade-long era of cheap money ends, with some investors worrying the shock collapse of Silicon Valley Bank signals world markets may be on the cusp of a reckoning.

Over the past year, the US Federal Reserve launched its most aggressive interest rate hiking cycle since the early 1980s and other central banks, including the ECB have joined in, leaving global investors to face a gamut of consequences.