, a Silicon Valley-focused financial company, disclosed on Wednesday that it had lost $1.8 billion following securities sales. The company will seek to raise $2.25 billion by selling common and preferred shares to help offset the losses.

Shares of SVB plunged more than 60%, while the banking sector as a whole was a sea of red. $KBW银行指数 (.BKX.US)$

The KBW Bank Index tracking 24 US bank stocks plummeting nearly 8% overnight, marking a 27-month low.

Founders Fund, the venture capital fund co-founded by Peter Thiel, has advised companies to pull money from SVB.

What do you think will be the impact of this event on the stock market?

Will it be the beginning of another financial crisis?

Or is it just a temporary shock to the banking sector?