IAG had exposure to SVB and crypto risk?I hardly think so. Likely some banks have exposure if they have investments with Blackrock or Citadel, who were involved in SVB bouncing back. Would have to ask the managers at IAG if they have any interest in firms involved wit crypto or SVB, but that doesnt fit IAG profile.
I do believe this selloff is a sympathy sell , as when the banking system start to fall apart , anything financial gets dumped in the freakout selloff. Domino effect, much like when Lehman Bros went bellyup way back when. Over 200 US banks were toast after it was over.