Silicon Valley Bank, Signature Bank Failures Send Bank Stocks Reeling

Financial stocks continued to sell off following the collapse of regional lenders Silicon Valley Bank and Signature Bank.

people gathered outside of Silicon Valley Bank entrance
(Image credit: Justin Sullivan/Getty Images)

The banking sector remained in focus Monday after regulators swooped in over the weekend to avert a contagion crisis following Friday's news that Silicon Valley Bank, which services many large technology companies, start-ups and venture capitalists, collapsed. The regional bank owned by SVB Financial Group (SIVB) was closed last week by the California Department of Financial Protection and Innovation.  

Adding to the banking bedlam, Signature Bank (SBNY), a New York-based regional lender focused on the cryptocurrency market, was also shuttered by regulators over the weekend. This came after customers rushed to withdraw deposits from the bank, and officials deemed it a systemic risk to the financial system.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.