Netanyahu: I am closely following the fall of US investment bank SVB

Netanyahu:

I am closely following the fall of US investment bank SVB

Israeli Prime Minister Benjamin Netanyahu said he was closely following the collapse of US investment bank SVB, which has caused a profound crisis in the Haitian technology world.

Netanyahu continued:

• I spoke with high-tech Israeli officials from Rome.

• when I go back, I'll talk about the extent of

• the crisis with my finance and economic ministers

and the Bank of Israel's governor.

Netanyahu said:

If necessary

• we will take steps from helping Israeli high-tech companies

• to overcome the cash-flow crisis created by the financial turmoil

• especially as Israel's economy is strong and stable

and this shows again in this crisis.

He added: "SVB shares

which according to estimates finance more than 100 Israeli startups

fell. On Tuesday

the Bank's shares fell more than 60% on Wall Street

following a rise in interest rates in the United States and a weakening Haitian industry. 

The global banking sector had a poor start on Friday

with shares falling on stock exchanges as a result of concern caused by the faltering US group SVP Financial Group, a partner of choice for many technology companies.

In an AFP report, David Pinamo, director of investments at Axiom Alternative Investments, said that this "limited panic" movement began in reaction to major withdrawals by clients.

Elon Musk intends to buy the bankrupt "Silicon Valley" bank

Elon Musk, a US entrepreneur, did not completely exclude out

the possibility of buying a bankrupt "Silicon Valley" bank.

"I am open to this idea,"

Musk wrote on Twitter, responding to a user's comment suggesting Musk buy the bank and convert it into an electronic bank.

Earlier news of the closure of the well-known bank SVB spread in California.

US Treasury Secretary Janet Yellen has warned that the problem of default could lead to disaster in the US.

Of course

as with any financial institution, there are risks and challenges SVB faces

such as economic downturn

regulatory changes and cybersecurity threats.

However

• as of the cut off of my knowledge

• there have been no significant events

• or developments indicating that the bank is at risk of falling.