March 10, 20233 yr Shares in Silicon Valley Bank (SVB), a key lender to technology start-ups, plummeted on Thursday as investors moved to withdraw their deposits. The slide came after the bank announced a $1.75bn (£1.5bn) share sale to help shore up its finances. Shares in banks have fallen around the world - with the four largest US banks, including JP Morgan and Wells Fargo, losing more than $50bn in market value. One venture capitalist told the BBC the day's events were "wild" and "brutal". On Friday, shares in Asian banks were also trading lower. Shares in SVB saw their biggest one-day drop on record as they plunged by more than 60% and lost another 20% in after-hours trade.
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