Shares of Pacwest Bank fell more than 42% at 6:55 p.m. GMT after the California-based bank announced an assessment of strategic options, including a possible sale, according to CNBC.
Western Alliance Bank shares shed about 25% of their value on investor worries about the banking sector in the world’s largest economy.
stock movements
The Dow Jones Industrial Average fell 330.6 points, or 0.99%, to the level of 33,083.61 points.
The Standard & Poor’s 500 index also fell 28.5 points, or 0.69%, to 4,063.42 points.
The Nasdaq Composite Index also fell 50 points, or 0.38%, to 11,979 points.
European stocks ended Thursday’s session lower, after the European Central Bank eased the pace of interest rate hikes but pointed to monetary tightening going forward, while corporate stocks Swedish construction company Skanska fell due to lower profits due to high inflation. and interest rates.
The pan-European Stoxx 600 index closed down 0.5%, close to a one-month low hit earlier this week.
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