Financial markets across the world shuddered on Tuesday as news spread of Silicon Valley Bank (SIVB)'s request for $2.25 billion in fresh capital, sending markets into a tailspin. The KBW Bank Index plunged by 7% and the four biggest US banks lost a combined $52 billion in market value in one day.

This has been accompanied by an outflow of deposits from SIVB, which has seen its share price nosedive by a staggering 60%. This massive drop has cast a pall over the banking sector, with nearly $500 billion in deposits on the verge of being wiped out.

In an effort to avoid the same fate, First Republic Bank has announced they are taking precautionary steps through a large capital raise of $125 million. Despite this, share prices continue to slide, with stocks hitting their lowest levels in 15 years.

The Federal Reserve has acted to

The Golden State Warriors have been making a habit of coming from behind in their recent stretch of five straight victories, the most recent being against the New Orleans Pelicans on Friday night at Chase Center. Warriors forward Jonathan Kuminga topped the scoring with 19 points and a plus-13 rating, while coach Steve Kerr noted the push came as a result of the team's renewed commitment to its winning formula.

Kevon Looney echoed Kerr's sentiment, having seen the team do a better job of cutting down on fouls and leading with defense. "We're taking a step in the right direction," Looney said. Notable contributions from the bench included Kuminga, JaMychal Green, and Jordan Poole, who sealed the game with a breakaway dunk.

The success of the Warriors is all the more impressive with the absence of All-Star point guard De'Aaron Fox due to a hamstring injury.