Following the collapse of Silicon Valley Bank earlier this week, officials in Washington, D.C., were expressing their concern. The effects of the collapse are also being felt among small business owners, and even overseas. Willie James Inman has the details.

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US Treasury Secretary Janet Yellen has said the government is not looking at bailing out Silicon Valley Bank, the sixteenth largest in the country, after it was shut down by US regulators on Friday.
Authorities said they were worried about the banks liquidity after it lost money while selling assets. The concerns prompted the bank's depositers, mainly tech companies, to rush to withdraw funds sparking fears over the wider banking sector.
British finance minister Jeremy Hunt said the bank's failure poses a serious risk for the technology and life science sectors in the UK.

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Silicon Valley Bank, the 16th largest bank in the United States, is shut down. With $175 billion in deposits, it is the biggest American bank to fail since the 2008 financial crisis. CNBC’s Deirdre Bosa reports.

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