Reported 14 days ago
U.S. regional bank stocks declined after Zions Bancorporation announced a $50 million loss from two loans, raising investor concerns over credit risk amid economic uncertainty. Analysts expressed doubts about Zions' underwriting practices and highlighted the systemic risks following recent bankruptcies and fraud allegations in the sector. As Zions' shares fell, other banks like Western Alliance also faced scrutiny, prompting fears of broader repercussions in the regional banking index due to potential undisclosed losses.
Source: YAHOO