• Stocks in Asia are poised to follow the sharpest decline in US equities in two weeks after a rout in bank shares picked up steam on concerns pockets of trouble in the sector could portend broader dangers. Treasuries rallied.
• Equities declined more than 1% in Australia and futures pointed to similar drops for Japan and Hong Kong. The S&P 500 on Thursday fell to the lowest since Jan. 19, with financial companies in the index plunging. Banks came under fire after the collapse of Silvergate Capital Corp. amid growing scrutiny in Washington. Silicon Valley-based lender SVB Financial Group lost 60% after taking steps to shore up its capital position, stoking concern that soaring interest rates are eroding balance sheets.