SVB Financial Group in talks for sale; crisis triggers global banking rout

SVB Financial Group was exploring options, including a sale, after efforts to raise capital through a stock sale failed, sources said on Friday, as a crisis at the tech-heavy lender rippled through global markets and hit banking stocks. 

Shares of SVB were halted on Friday after tumbling 66 per cent earlier in premarket trading. SVB, which does business as Silicon Valley Bank, was not immediately available for comment. 

The brutal rout in the lender’s stock, which began on Thursday, spilled over into other US and European banks, with the episode spreading concern about hidden risks in the sector and its vulnerability to