Welcome to Closing Bell. I'm Scott Wopner from Post 9 here at the New York Stock Exchange in the thick of it all.

This make or break hour begins with stocks down sharply as we look ahead to the most important event of the week.

Tomorrow morning's jobs report, only hours left now to trade ahead of that and so much

potentially riding on the release.

Take a look at our scorecard with 60 minutes to go in regulation.

The majors as you see are all in the red, even as bond yields fall

today. Dig a little deeper though in this market and take a look now at the Russell 2000

because that is where the real damage is today as small caps lead things lower.

We're down by more than 2%.

Now 40 points on the Russell.

That does take us to our talk of the tape.

The banks, especially the smaller regional ones, getting absolutely smashed again today.

The ETF that tracks that space sitting at its lowest level in more than two years.

And one name in particular, Silicon Valley Bank, the parent company there.

There it is.

S. V. Financial, down near 60% today on word it has to raise capital.

Just how concerning is that?

Let's ask Cameron Dawson, Chief Investment Officer of New Edge Wealth here

with us at Post-9. It's getting a lot of attention. Regional banks are really selling

off hard. I showed you what the Russell is doing. The four biggest banks today have lost near 50 billion dollars in market

cap what does it mean to you well there's nothing like a forced capital raise

from a bank to wake the market up to the risk of higher interest rates and tighter liquidity.

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