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It would save me a lot of time if you just gave up and went mad now.

arts / rec.arts.tv / Re: BBC: Share plunge in Silicon Valley bank causes trading halt

Re: BBC: Share plunge in Silicon Valley bank causes trading halt

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https://www.novabbs.com/arts/article-flat.php?id=178461&group=rec.arts.tv#178461

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Date: Fri, 10 Mar 2023 16:33:10 -0800 (PST)
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Subject: Re: BBC: Share plunge in Silicon Valley bank causes trading halt
From: jgrov...@hotmail.com (Bering Sea Bar & Brig)
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by: Bering Sea Bar & - Sat, 11 Mar 2023 00:33 UTC

On Friday, March 10, 2023 at 10:06:42 AM UTC-6, RichA wrote:
> Trading in shares of Silicon Valley Bank (SVB) has been suspended, as the firm's scramble to raise money provokes fears of wider problems in the banking industry.
>
> Markets are waiting for an announcement from the bank, which sparked panic after saying it would need to raise $2.25bn (£1.9bn) to plug a loss caused by the sale of assets affected by higher interest rates.
>
> Shares in the firm tumbled overnight.
>
> Bank shares globally were also hit.
>
> SVB, headquartered in California, is a key lender to technology firms. Its shares saw their biggest one-day drop on record on Thursday as they plunged by more than 60% and lost more in after-hours trade.
>
> Concerns that other banks could face similar problems led to widespread selling.
>
> The four largest US banks lost more than $50bn in market value on Thursday, while shares of banks in Asia and Europe fell sharply on Friday.
>
> Among the UK banks, HSBC shares fell 4.8% and Barclays dropped 3.8%.

Already seized by FDIC. Now the national bank of Santa Clara.

Subject	Author
Re: BBC: Share plunge in Silicon Valley bank causes trading halt	Bering Sea Bar & Brig