Regional Banks Slump as Rout Deepens on First Republic

In anticipation of a Federal Reserve decision, regional US banking stocks rebounded along with the broader market rally on Wednesday, reversing the previous day’s sharp decline triggered by the troubled lender First Republic Bank’s failure.

The event had prompted investors to scrutinize the sector’s future prospects.

PacWest Bancorp and Western Alliance Bancorp led the industry’s rebound on Wednesday as US stocks rallied ahead of the Federal Reserve’s interest rate decision, Bloomberg reported via Yahoo News.

"US Regional Banks Slump as Rout Deepens on First Republic Flop"
READ MORE: https://finance.yahoo.com/news/us-regional-banks-slump-rout-092608916.html

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