Reported 3 days ago
Wall Street is increasingly anxious about the possibility of widespread bad loans following alarming disclosures from financial institutions like Jefferies Financial Group, Western Alliance Bancorp, and Zions Bancorp. Jefferies faces scrutiny over its $45 million exposure to First Brands, which is under investigation for potential fraud, while both Western Alliance and Zions have revealed they lent to businesses that allegedly defrauded them, causing significant stock declines. This situation has led investors to seek safety in assets like US Treasuries, sparking fears reminiscent of the 2023 banking crisis.
Source: YAHOO