Silicon Valley Bank Collapse Sparks Market Fears and Vendor Risk Reassessment
TL;DR Summary
Evercore ISI's senior managing director Julian Emanuel warns that the recent financial stress caused by the Silicon Valley Bank collapse could lead to a new market low, comparing it to the 1987 crash. Emanuel suggests that more problems are lurking, especially if the Federal Reserve continues hiking interest rates, and predicts a mild recession and retest of last October's market low. However, he is sticking with his S&P 500 year-end target of 4,150, set in December, reflecting an 8% gain from Monday's close.
- 'Stress like 1987': Evercore's Julian Emanuel warns Silicon Valley Bank fallout could force new market low CNBC
- IT Leaders Reassess Vendor Risks After Silicon Valley Bank Collapse The Wall Street Journal
- SVB fallout the break expected by markets, says Sand Hill Global Advisors' Brenda Vingiello CNBC Television
- Evercore's Schlosstein Says Other Banks Are At Risk Bloomberg
- Big Short trader Danny Moses warns Silicon Valley Bank collapse will expose more trouble The West Australian
- View Full Coverage on Google News
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