People have become more interested in the U.S. banking crisis recently, as seen on Google Trends. People have been asking questions about phrases such as “bank collapse” and “bank failure” a lot more recently. On March 13th, 2023, searches related to this topic reached their highest rate – they got a score of 100! This was mainly because of difficulties with Silicon Valley Bank, Signature Bank, and First Republic Bank.
Investigating the Banking Crisis
Data from Google Trends shows that a lot more people are looking up information about the banking crisis in the U.S. Some of the questions that people are typing into Google include, “What happens to my money if banks collapse?”, “What bad things can happen because of a banking crisis?” and “Which U.S. banks have closed down?”. These types of questions show just how much people have been looking for information on the recent US bank collapses.
Recently, people have been talking about banks collapsing. This includes Silvergate Bank, Signature Bank and Silicon Valley Bank—two of these three are considered the second and third biggest bank failures United States has ever seen after Washington Mutual (Wamu) was wiped out in 2008. People expressed worry over other banks like Pacwest Bancorp, First Republic Bank and Credit Suisse, a Swiss banking giant.
On 19th March 2023, there was data all over the world about people searching for the words “bank failure” during the last 30 days.
Google Trends revealed that the topic of bank failure had become extremely popular on March 13th. It all started 9 days before, and even today (when this article was written) it remains at 34. People around the Globe are searching different keywords such as “banking crisis”, “bank collapse”, and “U.S. banks” in huge numbers – especially from countries like America, Zimbabwe, Canada, China, Egypt, New Zealand, and Singapore.
Google Trends noticed a sudden increase in searches for “banking crisis 2023,” “silicon valley banking crisis,” and “banking crisis in US” recently. There has been an upsurge in search queries for banks of all sizes from small ones to large institutions – which is the same as it was during the Great Recession of 2008 between June and October that year.
On the 19th of March, 2023 lots of people have been searching on Google worldwide for answers about a ‘bank crisis’. Other related topics such as ‘deposits’, ‘insured deposits’, ‘uninsured deposits’, ‘bank run’, how much money the FDIC and Federal Reserve are keeping in reserve (the bailout), interest rates changing and rate hikes have also seen an upsurge in searches.
Have you noticed over this past month how often people have used Google to search and ask questions about the bank crisis in the United States? Let’s talk about it in the comments section below!