Stock Market Today: Silicon Valley Bank Failure Sinks Stocks

The largest bank failure since the 2008 financial crisis stole the spotlight from the February jobs report.

SVB sign for Silicon Valley Bank
(Image credit: Justin Sullivan/Getty Images)

Stocks spent the early part of Friday morning chopping between positive and negative territory as investors dissected the February jobs report. However, chaos erupted on Wall Street after regulators shut down Silicon Valley Bank, a regional financial firm that services many of the largest tech companies. What resulted were big losses for the major indexes and substantial slides for a number of bank stocks. 

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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.