PacWest's downfall leads regional bank stocks to slide.
TL;DR
Shares of US regional lenders, including PacWest Bancorp, First Horizon Corp., and Western Alliance Bancorp, continue to slide amid concerns for a sector that has been rattled by the collapse of multiple firms. PacWest plunged 51% to its lowest close ever after exploring strategic options and Western Alliance tumbled 38% after denying reports of a potential sale. However, the turmoil in US regional banking is not expected to spill over into the global banking sector as a whole.
Topics:businessfinance#finance#pacwest-bancorp#potential-sale#stock-market#us-regional-banking#western-alliance-bancorp
- PacWest (PACW), First Horizon (FHN) Stocks Lead Regional Bank Shares Down Bloomberg
- I don't see how PacWest survives the day, it'll be wiped out very soon: Consultant BNN Bloomberg
- Regional bank stocks continue to slide on Thursday with PacWest leading the way down 50% CNBC
- Profitability Was the Next Shoe to Drop at Banks Like PacWest Bloomberg
- Business | May 6th 2023 Edition The Economist
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