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Western Alliance shares fell 81 percent at the stock market opening today, as panic broke out among US regional bank investors. Investors are also dropping the securities of many other regional banks like hot potatoes.
First Rebulic is diving over 76 percent. Fifth Third Banc was up 22 percent, Zions Bancorp was up 32 percent, Comercia Inc was up 34.7 percent and PacWest Bancorp was up 50 percent. The bankruptcy of Silicon Valley Bank worries investors in general. They fear that other banks may also be affected.
Shares of big banks like Goldman Sachs are still much more stable: Here, Monday’s loss was just 2.5 percent. Just 0.9 percent at Morgan Stanley.
Credit Suisse also lost more than 12 percent at the start of the week. The stock is currently at 2.19 francs. It is also 7.5 percent in UBS. At Deutsche Bank it is minus 5.2 percent.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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