https://finance.yahoo.com/quote/SIVB/
The S&P 500 bank index was down 4.6% on Thursday as investors grew wary of the entire sector after SVB Financial Group's share sale announcement and crypto bank Silvergate's decision to wind down operations.
Shares in SVB, whose operating segments include Silicon Valley Bank, led declines, with a drop of 43.8% to $150.62 after it announced the $1.75 billion share sale late on Wednesday as it battles cash burn due to declining deposits from startups struggling with a venture capital funding drought.
The second biggest decliner in the S&P 500 index was another San Francisco-based bank, First Republic, which was off 14.1% after hitting its lowest level since October 2020. Also Zion Bancorp, down 8.2%.
The SPDR S&P regional banking ETF was down 6.0% after hitting its lowest point since January 2021.
https://finance.yahoo.com/news/banks-tumble-svb-ignites-broader-173433069.html
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