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Search resuls for: "John Melloy Hugh Son Jesse Pound"


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☆ Silicon Valley Bank drops another 45%, weighing on the bank sector again
  + stars: | 2023-03-10 | by ( John Melloy Hugh Son Jesse Pound | John Melloy | Hugh Son | ) www.cnbc.com   time to read: +3 min
In this photo illustration of the TradingView stock market chart of SVB Financial Group seen displayed on a smartphone with the SVB Financial Group logo in the background. Shares of SVB Financial Group , known as Silicon Valley Bank, tumbled for a second day Friday and weighed on the whole banking sector again on fears more banks would incur heavy losses on their bond portfolios. The SPDR S&P Regional Banking ETF was off another 1.5% Friday following an 8% tumble on Thursday. Signature Bank , which does a lot of business with the crypto sector, was off 4% in premarket trading following a 12% tumble Thursday. On Thursday, the bank was worth $6.3 billion with that value set to drop even more when trading begins Friday.
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