Interest in the US banking crisis has risen sharply in the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis”, “bank collapse” and “bank failure”. On March 13, 2023, the search term “banking crisis” reached Google Trends’ top score of 100. Related topics concern the financial woes of Silicon Valley Bank, Signature Bank, and First Republic Bank.
Google Trends Shows Global Interest in the US Banking Crisis Soared Last Week
Data from Google Trends reveals a significant increase in public interest in the US banking crisis, with searches skyrocketing. A search using the term “banking crisis” shows that people ask Google several related questions, including “What happens to my money if the banks fail?”, “What are the negative effects of a banking crisis? ” and “Which US banks have collapsed?”
The rise in public interest is attributed to the collapse of three banks: Silvergate Bank, Signature Bank, and Silicon Valley Bank. Two of the three banks are between the second and third largest bank failures in US history, after Washington Mutual (Wamu) collapsed in 2008. People have also raised concerns about other banks, including Pacwest BancorpFirst Republic Bank and Swiss banking giant Credit Suisse.
According to Google Trends, the worldwide interest in the topic of “bank failure” reached a score of 100 on March 13. The increase began on March 9, 2023 and is currently 34 as of this writing. On March 13, search terms like “banking crisis”, “banking collapse” and “US banks” saw a significant increase in the number of searches. While a significant portion of the interest is coming from the United States, there is also a lot of interest from countries like Zimbabwe, Canada, China, Egypt, New Zealand, and Singapore.
Google Trends has also recorded other prominent searches, such as “banking crisis 2023,” “silicon valley banking crisis,” and “US banking crisis.” In the last 14 days, search queries for banks of various sizes have increased, including banking giants, midsize financial institutions, and smaller banks. The last time searches for these terms peaked was during the Great Recession of 2008, specifically in the months of June, July, August, September, and October.
Banking-related terms such as “deposits”, “insured deposits”, “uninsured deposits”, “bank run“FDIC,” “bailout,” “bailouts,” “Federal Reserve,” “Fed,” “interest rates,” “interest rate hikes,” and “rate hikes” have also been trending higher in recent two weeks. .
What do you think about the increase in Google searches and queries about the US banking crisis in the last month? Share your thoughts on this topic in the comments section below.
image credits: Shutterstock, Pixabay, Wiki Commons, Google Trends March 19, 2023,
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