US bank woes? Silicon Valley Bank stocks plunge 1 day after Silvergate downfall By Cointelegraph

© Reuters.

Fears have been heightened over the future of another United States bank this week after Silicon Valley Bank (SVB) announced a significant sale of assets and stocks aimed at raising additional capital.

However, some investors may be concerned that not all is well at the tech startup and VC-focused bank, particularly given the closure of crypto bank Silvergate just a day earlier. Shares in Silicon Valley Bank collapsed over 60%, wiping some $80 billion in value from the bank’s shares.

SVB’s five-day chart shows the sharp one-day price decline from around $265 to trading at nearly $80 after hours on March 9. Source: Google (NASDAQ:) Finance