Reported 13 days ago
Regional bank stocks experienced significant declines due to mounting concerns over credit quality, particularly following troubling updates from Zions Bancorp and Western Alliance Bancorp. Zions faced a 13% drop after revealing substantial charge-offs, while Western Alliance fell 11% amid a fraud lawsuit against a borrower. This turmoil affected the broader banking sector, contributing to losses in major stock indexes and raising alarms over the stability of credit markets, especially in light of recent high-profile bankruptcies.
Source: YAHOO