As the Google Trends data shows, interest in the US banking crisis has increased significantly over the past two weeks.” Queries related to search terms such as “banking crisis,” “banking collapse,” and “banking collapse” have skyrocketed; on March 13, 2023, the search term “banking crisis” reached the top-scoring 100 on Google Trends. Relevant topics relate to financial troubles at Silicon Valley Bank, Signature Bank, and First Republic Bank.
Global interest in the U.S. banking crisis surged last week on Google Trends
Data from Google Trends revealed a marked increase in public interest in the U.S. banking crisis and a surge in searches.” Searches using the term “banking crisis” included “What will happen to my money if the banks fail?” , “What are the negative effects of the banking crisis?” and “Which U.S. banks have failed?” You will find that you are asking Google a variety of related questions, such as.
The surge in public interest is attributed to the failure of three banks. Silvergate Bank, Signature Bank, and Silicon Valley Bank, two of the three being among the second and third largest bank failures in U.S. history, after the 2008 failure of Washington Mutual (WAM). People have also expressed concern about other banks, includingPacwest BancorpFirst Republic Bank, and Credit Suisse, a major Swiss bank.
According to Google Trends, global interest in the topic “Bank Failure” reached 100 points on the 13th. The increase began on March 9, 2023, and as of this writing there are currently 34 searches for the topic.On March 13, search terms such as “banking crisis,” “bank failure,” and “US banks” all saw significant increases in search volume. Interest from the U.S. is high, but also from countries such as Zimbabwe, Canada, China, Egypt, New Zealand, and Singapore.
Google Trends also recorded other breakout searches such as “banking crisis 2023,” “Silicon Valley Banking Crisis,”Banking Crisis in the United States“. Over the past 14 days, we have seen an increase in search queries related to banks of all sizes, including large banks, medium-sized financial institutions, and smaller banks. Searches for these terms peaked during the Great Recession of 2008, particularly in the months of June, July, August, September, and October.
banking-related terms such as “deposits,” “insured deposits,” “uninsured deposits,” “bank runs,” “FDIC,” “bailout,” “bailouts,” “Federal Reserve,” “Fed,” “interest rates,” “interest rate hikes,” and “rate hikes” also seem to be on the rise over the past two weeks.
Image credit: Shutterstock, Pixabay, Wiki Commons, Google Trends on March 19, 2023,