Silicon Valley Bank (SVB) stock trading halted, multiple bank stocks suspended amid sharp drop

On the 10th, Silicon Valley Bank (SVB) parent company SVB Financial Group's stock price (SIVB) plummeted by 70% in pre-market trading, leading Nasdaq to halt trading before the evening session. Following this, many bank stocks also suspended trading due to significant volatility: First Republic Bank, PacWest Bancorp, Western Alliance Bancorp, and Signature Bank.

On the 10th, Silicon Valley Bank SVB's parent company SVB Financial Group stock price SIVB plummeted by 70% in pre-market trading, prompting Nasdaq to halt trading before the evening session. Subsequently, many bank stocks also saw trading halts due to significant volatility: First Republic Bank, PacWest Bancorp, Western Alliance Bancorp, and Signature Bank. First Republic Bank fell by 50% at one point, PacWest Bancorp and Western Alliance Bancorp slid by 30%, while crypto-friendly bank Signature Bank experienced a 25% drop. The KBW Bank Index, which includes several major U.S. banks, dropped by 6% at one point. The trading conditions of various banks at the time of writing are sourced from The Wall Street Journal: