Silicon Valley Bank crisis will force Fed to cut rates by 100 basis points

The Silicon Valley Bank crisis will force the Fed to slash rates by 100 basis points to prevent contagion, market guru says

, extending its two-day dive to as much as 87%, with several venture capital firms advising their portfolio companies to pull money from the bank., and regional lenders like First Republic, Signature Bank and PacWest are also plunging.

"Within the next couple of months, as the contagion brews up this channel — up to high yield, leveraged loans, across the entire ecosystem — that's when the Feds gonna have to bring out the other firehose and cut rates, probably within six to nine months," McDonald said.

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