what happened? erica, this happened so fast. it s stunning. silicon valley bank shut down by california regulators after the stock crashed by 60% yesterday after the bank said it needed to rapidly raise cash. this is easily the biggest bank failure since washington mutual fell apart in 2008 during the financial crisis. silicon valley bank, if you haven t heard of it, it is a major lender to tech start-ups. the fdic says that depositors that have $250,000 or less, they are insured here. they will get their money. they will get access to their money as soon as monday morning. but we know that some people, some entities, some start-ups, they have more than $250,000, and it s less clear what s going to happen to them. how did this happen? well, when the fed spikes interest rates, things tend to break. we know that the fed rate hikes have hurt the valuation of the tech companies that this bank catered to, also has hurt the value of the bonds that banks rely on to get cash. erica
Its 5 00 a. M. From the north bay to the south bay, rain is going to be a part of your commute. You can see it from this live picture, many bay area roads already pretty wet this morning. Good morning on this tuesday, january 3, when a lot of you are heading back to work. We have meterologist mike and alexis smith back on the road. We are putting you back to work and getting you busy, mike. Hitting the ground running. Absolutely. Lets take a look at live doppler 7. I have it zoomed on on the snow grade. Sherden road, that whole area down towards mission boulevard, getting light to moderate rain right now. And you can see theres more moving through the south bay, lighter amounts as you head to the north so heres a look at walnut creek, look south on 680. 40 to 50, your temperature, right rain right now, oh my. Lets see if i can get that back. And that 12hour day planner is going to show you some moderate rain at noon and then moderate to heavy as we head from 4 00 to 7 00 so its only go
Couple weeks there combined. Dark green on live doppler 7, thats heavier stuff. So, right around the pass, weve got some steady rain at the moment and youre down to about 15 miles an hour. Westbound 205 to 580, so Central Valley commute look more normal than it has the last couple weeks. Weeks. Drive times than ten if you commute from marin, we are wishing you sincere luck. Amy, as weve been checking in with you, hasnt looked so bad yet. Reporter not too bad. Were learning that a lot of people from marin county dont get up too early. Not too bad yet. Look at it. Youre looking at southbound traffic. This is marin county headed into San Francisco. These people are only going to have three lanes this morning. They usually have four. Thats because theyve got some issues with their movable median barrier. It h its broken. Engineers are working on the problem. At this point, they dont know what caused the problem. They say they hope to have it fixed by today but since theyve never encountere
That area, how many folks need to be evacuated. If you do live in the area, steer clear of driving in those roads and obviously if emergency crews ask you to evacuate, you want to listen to them. Ill continue watching these images. You see some kids there, some folks in hoodies. Pretty cold out there, mike, so theyre dealing with that and so a lot happening in this area that we are working to get more information there for you. Mike, im going to check in with you because like you said, theres going to be more rain right there for them. Just some light rain, thankfully. Theyll be having heavier rain tonight. Light rain down there, temperatures about 51 degrees, nobody wants to be wet, let alone wet and cold but they look like theyre going to be safe. I saw a tweet from matt keller. We add a Flash Flood Warning. Some people had to be rescued. The Flash Flood Warning is over but you can see the rain moving towards the trivalley and also around san mateo, alameda, some light to moderate ra
Okay, yeah, we have had a couple spinout crashes here this morning. Taking another look at walnut creek, i thought it was just that wet pavement slowing us down on southbound 680. Turns out just before highway 24, we have something in lane number two so that is the left center lane trying to get to the bottom of what that is but a quick check of drive times, still pretty average there, highway 4 to walnut creek, 10 minutes, pretty heavy out of the Central Valley and thats where we have heavy rain, 55 minutes, tracy to dublin illan update on the walnut creek situation coming up. In marin county, residents and businesses are preparing for the upcoming storms. San anselmo, rain already starting to come down and people there getting ready for the series of incoming storms. In novato, barricades of sandbags protect homes on lauren avenue after a nearby creek overflowed last week. In sonoma county, theyll be watching the rain closely. They are anticipating the Russian River will not reach fl