Biggest collapse since financial crisis, Silicon Valley Bank leaves billions in the lurch

Biggest collapse since financial crisis, Silicon Valley Bank leaves billions in the lurch

SVB (Silicon Valley Bank) logo and decreasing stock graph are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration

Startup-focused lender SVB Financial Group became the largest bank failure since the financial crisis on Friday, in a sudden collapse that roiled global markets and stranded billions of dollars belonging to companies and investors.