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Vcs Urge Startups To Withdraw Funds From Silicon Valley Bank
VC firms are urging their portfolio companies to move money out of embattled lender Silicon Valley Bank, fueling fears of a run on the tech-focused bank. Full investment news article
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Chicago Housing Authority,
Dow Jones Slides On Strong Jobs Report; Silicon Valley Bank Crashes 66% On Bank Run Fears
The Dow Jones Industrial Average briefly dropped more than 175 points Friday, as investors digested a stronger-than-expected jobs report from the Labor Department. SVB Financial (SIVB), holding company for Silicon Valley Bank, crashed another 66% early Friday morning on growing fears of a bank run before the stock was halted. Late Thursday, Bloomberg reported that venture-capital funds, including Peter Thiel's Founder Fund, were advising their portfolio companies to withdraw their money from Silicon Valley Bank. Friday's early plunge follows Thursday's … Full investment news article
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Silicon Valley Bank,