This Is What A Financial Accident Looks Like

We spoke many times last year about our concerns about the Fed rate hikes were not for the underlying economy, which seemed to us to be very robust, but that it would end in some kind of financial accident, and this is what a financial accident looks like, says Michael Shaoul. He discusses the collapse of Silicon Valley Bank (SIVB). He notes that regulators are backstopping Silicon Valley Bank depositors and the Dow Jones coming off worst week since June. He then goes over how futures are lower as bank stocks weigh on markets. Tune in to find out more about the stock market today.