David McEwan: Stockfox Founder on the impacts of Silicon Valley Bank's collapse

Mixed impacts felt across the globe from the collapse of a US bank.

Regulators have seized the assets of Silicon Valley Bank and officials say there will be no federal bailout.

Rocket Lab has about 62-million New Zealand dollars in the bank: about 7.9 percent of its total cash, cash equivalents, and marketable securities.

Stockfox Founder David McEwen told Mike Hosking that stock prices will fall.

He says we saw the major banks go down about three percent on Friday, and he thinks there'll be more of that today.

But McEwan says in terms of the underlying strength of our local banks he has no real concerns.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.