The collapse of two US banks, SVB and Signature Bank, has caused bank shares to fall globally.
Joe Biden reassured the public that their money is safe, but investors are still worried about the general state of the banking sector and the potential risks to other banks.
Smaller US lenders were hit particularly hard, but many banks have reassured customers that they have enough cash to protect themselves from shocks.
However, investors are concerned about the fact that many banks are riskier than they appear due to losses sustained on their investments in government bonds as interest rates rise.
Investors are currently nervous about where the next crisis caused by rising interest rates could occur.
Some are speculating that the Federal Reserve may stop hiking rates or even start cutting rates in response to recent events.
It is unclear who will be at risk, but there is a general sense of unease among investors and financial analysts.
Read the full story: What do we know about the Silicon Valley and Signature Bank collapse?
