Silicon Valley Bank has been suspended on Wall Street pending communications.
The bank's stock is down 62%.
Attempts to raise funds have failed and the bank is working with advisors to sell it.
CNBC reports it citing some sources.
The European stock exchanges weighed down by the banks worsen while the Silicon Valley Bank financial group takes a tumble.
Milan loses 1.9% with Bper leading the declines (-5.1%)
The US economy creates 311,000 jobs, unemployment rises to 3.6%
The American economy created 311,000 jobs in February, above the expectations of analysts who bet on 225,000 jobs.
The unemployment rate rose to 3.6% from 3.4%.
