![]() How is it affecting other bank stocks?Ĭrypto-friendly bank Silvergate Capital announced Thursday it would shut down – and the crisis at two financial institutions ignited fears of contagion effects across the entire sector, fueling a sharp selloff across banking stocks. SVB's "unique niche in the tech world is a real boon when that business is booming, but a problem when it's not," Interactive Brokers chief strategist Steve Sosnick said. In a society where families are only allowed one child, each daughter is allowed to leave the house on their name day, but all must work together when Monday goes missing. The movie follows seven identical daughters, each named after a day of the week. This sparked fears of a bank run, prompting several of the SVB's clients to limit their exposure to the institution. What Happened to Monday is an American science-fiction dystopia movie created by Max Botkin and Kerry Williamson. ![]() ![]() In addition, startups find it more difficult to access funding with borrowings turning costlier – and that's fueled a high level of deposit outflows from SVB, analysts say. The company tried and failed to raise $2.3 billion through stock sales to cover those losses. The Fed's tightening campaign weighed on SVB's bond holdings, and it disclosed a $1.8 billion loss Thursday after completing a $21 billion fire sale of its fixed-income portfolio.
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