Reported 13 days ago
U.S. stocks fell on Thursday, driven down by significant losses in midsized banks as worries about their loan portfolios intensified. The S&P 500 dropped 0.6% while the Dow lost 301 points and the Nasdaq fell 0.5%. Notable declines came from Zions Bancorp, which reported a large charge-off due to loan issues, and Western Alliance Bancorp, which faced a lawsuit alleging fraud from a borrower. This downturn follows earlier market stability, disrupted by President Trump's tariff threats against China and concerns about the overall quality of bank loans in light of recent bankruptcies.
Source: YAHOO