The collapse of Silicon Valley Bank, Signature Bank, and the poor performance of Credit Suisse bank has people on edge.
The stock market took a sharp fall today, which has people wondering if financial issues could get worse. 
Three bank failures this March in the U.S. has some people wondering if this is Deja Vu, possibly a repeat of 2008 when corporate giant Lehman Brothers collapsed and brought the U.S. economy to its knees. 
We put that question to economists who warn a crisis of confidence could turn the economy in the wrong direction.
U.S. Stocks closed mostly lower Wednesday. The collapse of Silicon Valley Bank and Signature Bank fueled fears other regional banks might also collapse or cause a deep recession.
Some Economists tell us there are no signs to show the banking system in the U.S. is collapsing, but emphasize fear and panic that fuel a run on banks can drive any bank into bankruptcy. 
"No bank is going to have all the money of all the customers available to pay it back," Dr. Omid Bagheri Kent State University Salem campus Department of Economics Assistant Professor said. 
He explained that banks make loans to others and charge interest in order to make a profit from that money. 
"There is no signal in any way that is showing the banking system in the United States is crashing, but even in the most successful banking system of any country, if for any reason people run to get their bank accounts the whole banking system, the whole financial system crashes in about a couple of days," emphasized Bagheri.
Many economists don't believe this will lead to a 2008-style Recession saying the economy is stronger and inflation continues to go down.
"We've made this progress at the same time the job market remains very strong. The unemployment rate is 3.6 percent. That's approaching a 50 year low. Twelve million new jobs created over the last two years, during the Biden administration," Deputy Director of the National Economic Council Bharat Ramamurti said.  
The bad financial health of Credit Suisse Bank has also renewed fears that other larger banks might also be on financial life support.
However, confidence rebounded after the Swiss Central Bank announced if that bank needs money it will provide liquidity.
Some economists warn folks information on social media sites might be misleading. 
"My only concern is some of those social media which can be effected by countries like China, North Korea, Russia. They might start some propaganda and start scaring people and coming up with very convincing articles that something is happening," Dr. Bagheri added. 
He explained if people buy it and run to get their money out of the bank then more banks can fail.
The world's largest money manager, CEO Larry Fink of BlackRock stated the regulatory response has been swift, and decisive actions have helped stave off contagion risks. 

But he warned that more bank seizures and shutdowns could take place in the U.S.
Other economists warn the federal government will bail out the banks and that doing that will lead to higher inflation again and the price of gas, groceries, and consumer goods will go up.