Wall Street Rattled by 15% Tumble in Pair of Banks: Markets Wrap
- PacWest, Western Alliance suffer multiple volatility halts
- T-bill yields for June top 5% in wake of Yellen’s warning
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Just a day after Wall Street breathed a sigh of relief with the rescue of First Republic Bank, a selloff in US regional lenders fueled renewed anxiety over financial stability, sinking stocks across the board and spurring a flight to the safest corners of the market.
For many traders, the timing couldn’t be worse.