Google Trends Data Shows Worldwide Interest in the US Banking Crisis

Google Trends Data Shows Worldwide Interest in the US Banking Crisis

Google Trends data shows worldwide interest in the US banking crisis over the past two weeks. 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 the top Google Trends score of 100. The related topics on the financial turmoil of Silicon Valley Bank, Signature Bank, and First Republic Bank have spiked in the search results.

Search Terms for 'Banking Crisis,' 'Bank Collapse,' and ‘Bank Failure’ Spiked

Google Trends data reveals a significant increase in global public interest in the US banking crisis, with searches spiking. A search using the term "banking crisis" shows that people asked Google various related questions, including "What happens to my money if banks collapse?" "What are the negative effects of a banking crisis?" and "Which US banks have collapsed?"

The global public interest is largely attributed to the collapse of three banks: Silvergate Bank, Signature Bank, and Silicon Valley Bank. Two of the three banks are among the US's second and third largest bank failures. Making it into the pages of US banking history after Washington Mutual (Wamu) collapsed in 2008. People have also expressed concerns about other banks, including PacWest, First Republic Bank, and the Swiss banking giant Credit Suisse.

Interest in the ‘Bank Failure’ Search Term Reached 100 

According to Google Trends, worldwide interest in the topic of "bank failure" reached a score of 100 on March 13. The increase began on March 9, 2023, and currently stands at 34. On March 13, the search terms "banking crisis," "bank collapse," and "US banks" saw a significant increase in the number of searches. While most interest is from the United States, there is also strong interest from countries such as Zimbabwe, Canada, China, Egypt, New Zealand, and Singapore.

Google Trends has also recorded other breakout searches, such as "banking crisis 2023," "silicon valley banking crisis," and "banking crisis in the US." In the past 14 days, search queries for banks of various sizes have increased, including banking giants, medium-sized financial institutions, and smaller banks. The last time searches for the terms peaked was during the Great Recession in 2008, specifically in 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 upward over the last two weeks.

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