Risk aversion escalated on Wall Street Friday, with all major indices trading in the red, as investors remain skeptical about the stability of the banking sector in the wake of recent turmoil in the U.S. and Europe.
Cues From Friday's Trading:
Wells Fargo cut the price target for SVB Financial Group (NASDAQ: SIVB) from $350 to $300. Wells Fargo analyst Steven Shaw maintained an Overweight rating. SVB Financial shares fell 29.1% to $190.02 in pre-market trading.