Finance
US Regional Banks Slump as Rout Deepens on First Republic Flop
- Sector had plunged on Tuesday amid fallout from First Republic
- Zions, Western Alliance among regional lenders that dipped
This article is for subscribers only.
US bank stocks slid into the close on Wednesday following the Federal Reserve decision, extending Tuesday’s deep selloff after the failure of troubled lender First Republic Bank prompted investors to renew their scrutiny on the sector’s prospects.
Western Alliance Bancorp, Zions Bancorp, and Comerica dipped on Wednesday alongside other regional lenders, with bank stocks selling off into the market close. The sector had tumbled on Tuesday, rattling broader markets amid heightened focus on the industry’s stability.