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A Silicon Valley problem with similar traits to past global crises

Contagion from financial crises now spread online, risking quicker collapses

(From left) Former Bank of Japan Gov. Yasuo Matsushita, and former and current U.S. Federal Reserve Gov. Ben Bernanke and Jerome Powell.    © Source photos by Kyodo, Rie Ishii and Reuters )

TOKYO -- The financial crisis triggered by the collapse of Silicon Valley Bank on March 10 has spread to Europe, as the central banks of Japan, the U.S. and Europe scramble to put in place countermeasures such as an emergency supply of dollars.

The world is witnessing a scene that has been repeated time and again over the past three decades as markets becoming increasingly interlinked.

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