Asian stocks tumbled on Friday amid concerns about the health of the U.S. banking sector and anxiety ahead of the all-important U.S. jobs data due later in the day that could set the tone for the U.S. rates outlook.
Silicon Valley Bank shares plunged 60 percent overnight after the tech-focused U.S. bank said it would raise $US2 billion in additional capital to offset losses on bond sales, raising concerns about its solvency.
Earlier in the week, crypto-focused U.S. bank Silvergate said it would wind down operations following a bank run prompted by regulatory concerns.
