Silicon Valley Bank collapse continues to rattle markets and nerves

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The fallout from the collapse of Silicon Valley Bank continues to ripple, roiling markets and the nerves of everyday account holders and investors.

SVB said last Wednesday that it had suffered a $1.8 billion after-tax loss and needed an infusion of funds to ease depositors' concerns.?Two days later, the Federal Deposit Insurance Corporation took over the troubled bank ?after its healthier peers failed to step up to buy it.

Another bank, Signature, which was a big lender to the crypto industry, also shuttered over the weekend. Typically the FDIC?insures accounts up to $250,000 when a bank fails. But the agency, along with the Federal Reserve and Treasury Department took the novel step of saying regulators will guarantee?deposits exceeding that amount because the twin collapses could create problems for the broader banking industry.

The Justice Department is taking a preliminary look at what led to SVB's collapse, a person familiar with the matter said Tuesday. That investigation, as well as a preliminary inquiry by the Securities and Exchange Commission, was first?reported ?by The Wall Street Journal.?

T-Mobile to buy Mint

T-Mobile?is preparing to buy Mint Mobile.

The cell phone company says it reached an agreement to buy Ka'ena Corp and its subsidiaries and brands which include Mint Mobile for up to $1.35 billion in stock and cash.

Fans of actor Ryan Reynolds, a part owner of Mint and the chief spokesman for the prepaid wireless brand, don't need to worry. Reynolds will continue to play a part in the company's marketing, and Mint's current low pricing will continue as well.

Inflation slips, then sees an uptick

Consumer prices rose 6% last month as compared to the same period last year, down from 6.4% in January and a four-decade peak of 9.1% in June, according to the Labor Department's consumer price index.

But prices increased 0.4% in February, a far greater uptick than previous months when prices went up 0.1% to 0.2%.

That's concerning as consumers and investors await the Federal Reserve's upcoming decision about whether to continue raising interest rates, and by how much, in order to slow inflation.

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