Banking Crisis to Hurt Tech Sector, GlobalData Says
The financial crisis facing many U.S. tech banks such as Silicon Valley, Silvergate and Signature is affecting the tech sector, GlobalData said Monday. The tech sector relies on those banks for financing, payroll and other services, it said. The bank…
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run will hit the tech sector globally, with nations like Israel, India, Sweden and the U.S., where tech has been a big driver of high net worth wealth, seeing outsized and negative impacts on their wealth markets, it said.