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Reuters — Economy — Banking — Finance — Monetary Policy — Inflation

U.S. bank stocks fall further as regulators shutter SVB Financial

U.S. bank stocks fall further as regulators shutter SVB Financial. Regional banks hit hardest with S&P 500 regional banks index dropping 4.3% this week. US and European banks lose around $150 billion in value in two days

1 min read
  • Shares of U.S. banks extended losses on Friday after SVB Financial Group's (SIVB.O) failure.
  • Regional banks hit hardest with S&P 500 regional banks index (.SPLRCBNKS) dropping 4.3% this week.
  • US and European banks lose around $150 billion in value in two days.
  • Fed's rate hike at next meeting later this month could break something in banking system.
  • Shares of Western Alliance Bancorp (WAL.N) tumbled 21% and PacWest Bancorp (PACW.O) dropped 38%.
U.S. bank stocks fall further as regulators shutter SVB Financial
Shares of U.S. banks extended recent losses on Friday, with regional banks hit hardest, as SVB Financial Group's failure reverberated across the financial industry.
Reuters

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