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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. The firm launched the share sale after losing around $1.8bn when it offloaded a portfolio of assets, mainly US Treasuries. But more concerningly for the bank, some start-ups who have money deposited have been advised to withdraw funds. Hannah Chelkowski, founder of Blank Ventures, a fund that invests in financial technology, told the BBC the situation was "wild". She is advising companies in her portfolio to withdraw funds.
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.
The firm launched the share sale after losing around $1.8bn when it offloaded a portfolio of assets, mainly US Treasuries.
But more concerningly for the bank, some start-ups who have money deposited have been advised to withdraw funds.
Hannah Chelkowski, founder of Blank Ventures, a fund that invests in financial technology, told the BBC the situation was "wild". She is advising companies in her portfolio to withdraw funds.