Reported 14 days ago
Wall Street is experiencing increased credit anxiety after JPMorgan Chase CEO Jamie Dimon's cautionary remarks about potential underlying issues in the US economy, likening them to seeing a cockroach. This sentiment led to declines in regional bank stocks, including a 13% drop in Zions Bancorporation and nearly a 10% fall for Western Alliance Bancorporation, after they disclosed significant financial concerns tied to loans. These developments come on the heels of notable bankruptcies in the auto sector, raising alarms about credit quality among commercial borrowers.
Source: YAHOO