soundingthealarm
Well-Known Member
https://www.fool.com/investing/2023/03/09/why-shares-of-svb-financial-crashed-today/
SVB reported that it sold a large chunk of bonds at a loss and now needs to raise capital.
What happened
Shares of SVB Financial (SIVB -56.47%), the parent company of Silicon Valley Bank, tanked by more than 39% as of 10:45 a.m. ET today after the bank announced it was selling bonds for a loss and raising capital.
SVB reported that it sold a large chunk of bonds at a loss and now needs to raise capital.
What happened
Shares of SVB Financial (SIVB -56.47%), the parent company of Silicon Valley Bank, tanked by more than 39% as of 10:45 a.m. ET today after the bank announced it was selling bonds for a loss and raising capital.