The regional bank index in the US stock market plummeted by 6%, triggering sector-wide sell-offs due to the credit crisis at Zions
The U.S. regional bank index plummeted by 6%, primarily affected by the credit crisis of Zions Bancorp. Among the constituent stocks, Grupo Cibest SA and California Bank fell by 6.27% and 6.19%, respectively. Zions Bancorp announced it would record a reserve of $60 million and set aside $50 million, reflecting the legal risks faced by the banking industry. Market risk warning, investment should be cautious
The component stock Zions Bancorp fell by 6.27%, California Bank fell by 6.19%, EBC, BKU, CBSH, ONB, TEBI, FIBK, FLG, FNH, FFBC all fell by at least 5%, UBSI fell by 2.9% ranking second in performance, and CFR also fell by 2.64%. Previously, Zions Bancorp stated that it would record a reserve of $60 million and would accrue $50 million. The company announced that it is aware of the legal actions taken by the banking industry and lenders.
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