In the middle of last week, Moody’s Investors Service Inc delivered alarming news to SVB Financial Group, the parent of Silicon Valley Bank: the ratings firm was preparing to downgrade the bank’s credit. That phone call, described by two people familiar with the situation, began the process toward Friday’s spectacular collapse of the startup-focused lender, […]
Silicon Valley Bank
A dramatic sell-off in U.S. bank stocks spilled over into Europe on Friday, as some of the region’s biggest banks saw their shares tumble in their largest decline in nine months. Europe’s STOXX banking index fell more than 4% and was set for its biggest one-day slide since early June, with declines for most major […]
