US Regional Banking Crisis Worsens, PacWest and Western Alliance Stocks Plunge.
TL;DR
Shares of PacWest Bancorp and Western Alliance Bancorp plunged as reports of both banks exploring strategic options sparked investor worries of a widening financial crisis. Western Alliance denied the report, calling it "categorically false in all respects," and said it was weighing legal options against the newspaper. The KBW Regional Banking index dropped 3.3%.
Topics:businessfinance#deposit-outflows#finance#financial-crisis#pacwest-bancorp#regional-banks#western-alliance-bancorp
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