NEW YORK (AP) — Wall Street is concerned about the health of the nation’s regional banks, after a few of them wrote off bad loans to commercial customers in the last two weeks and caused investors to wonder if there might be more bad news to come. Zions Bank, Western Alliance Bank and the investment…
By Alun John, Ankur Banerjee and Manya Saini SINGAPORE/LONDON (Reuters) -Fear over credit quality in U.S. regional banks rippled through markets on Friday, dragging global financial stocks lower and reviving memories of the crisis of confidence that shook sentiment just over two years ago. The selloff hit Wall Street’s main indexes, with futures pointing to…
By Manya Saini, Arasu Kannagi Basil and Ateev Bhandari (Reuters) -U.S. bank stocks, including Zions Bancorporation, Jefferies, and Western Alliance, fell sharply on Thursday as investors grew uneasy about risk in the sector, which has been shaken by exposure to two auto bankruptcies. Zions sank 12% after disclosing it would take a $50 million loss…