Crude oil eases on growth concerns
Silicon Valley Bank woes hit banks globally
U.S. nonfarm payrolls before opening bell on Wall St
U.S. inflation data looms

LONDON, March 10 Reuters Global shares hit a twomonth low on Friday as investors dumped banks on fears of contagion after a capital raising at Silicon Valley Bank, with U.S. payrolls figures also a focus ahead of the Federal Reserve meeting later this month.

Crude oil was heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate rises in the United States slowing growth and hitting fuel demand.

The yen eased after the Bank of Japan kept stimulus settings steady, while the dollar held its breath ahead of the U.S. data.

The MSCI All Country stock index was down 0.6, hitting its lowest level since midJanuary, while in Europe, the STOXX index of 600 companies tumbled 1.6.

Silicon Valley Bank had sought on Thursday to reassure tech clients as its stock collapsed by 60 while it was attempting to raise funds to plug a 1.8 billion hole caused by the sale of a lossmaking bond portfolio.

The news compounded jitters from news that cryptofocused lender Silvergate was closing down.

Silicon Valley Bank raised questions over the unrealised losses on bond portfolios among U.S. banks, and what that could mean for capital requirements, analysts said.

The concerns rippled through lenders in Europe.

The STOXX index of European bank shares sank 4.2 to its lowest level in more than…