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Not Just PacWest: These Regional Bank Stocks Plummet Amid Contagion Fears

Posted on AllSides May 4th, 2023
From The Center

Stock prices at a group of big regional banks tumbled Thursday as shares of PacWest Bancorp fell more than 40%, as fears of system-wide banking contagion persist after three bank failures in less than two months, including the second biggest collapse in U.S. history. The stock price of Phoenix-based Western Alliance Bancorporation fell by more than a third as of 3:30 p.m. Thursday, dropping more than 35% to $19.07, its lowest point since December 2013. First Horizon Corp, a Memphis-based regional bank, also saw a massive drop in its stock...

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