A Sunday night deadline loomed as JPMorgan and PNC were said to be interested in acquiring the troubled lender after it is seized by the Federal Deposit Insurance Corporation.

The FDIC move came less than two hours after a decision by tech funding giant SV Financial Group, parent company of Silicon Valley Bank, to halt trading shortly after markets opened this morning on NASDAQ – after its stock collapsed in 24 hours from $176.55 to $39.25 per share – sent shock waves across financial markets worldwide.