Shares in Zions Bancorp scored gains Tuesday after heavy stock losses the day before for a host of regional banks, triggered by several prominent bank failures.
A Zions Bank branch in Cottonwood Heights, Monday, March 13, 2023.for a host of regional banks, triggered by several prominent bank failures.
Monday’s fall came after federal regulators moved Sunday to take control of New York City’s Signature Bank in the wake of the collapse of tech-focused Silicon Valley Bank in California.
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Utah’s Zions Bank shares plummet in wake of Silicon Valley Bank collapseShares in Utah-based Zions Bancorp plunged Monday as effects of the collapse of two other large banks rippled through the U.S. financial system. Zions' CEO, though, said the institution’s financial position “remains strong.”
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Stock Market Today: Regional Bank Shares Tumble After Regulators Announce Silicon Valley Bank PlanRegional bank shares slid premarket and investors piled into the safety of bonds after regulators tried to limit the damage from Silicon Valley Bank's collapse
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Zions’ stock plummets in wake of SVB collapse, but here’s why Utah bank’s CEO says your money is safeZions’ share price fell 44.1% early Monday as trading on the NASDAQ opened, declining from $40.35 to $22.55 before moderating those losses to about 26% by midday.
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Bank regulators seize Silicon Valley Bank in largest bank failure since the Great RecessionThe bank failed after depositors — mostly technology workers and venture capital-backed companies — began withdrawing their money creating a run on the bank.
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Bank analysts reshuffle ratings in response to seismic shifts in industryDemise of Silicon Valley Bank and Signature Bank and Monday's sharp drop in shares of First Republic Bank lead analysts to reshuffle ratings on bank stocks.
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Can the Government Contain a Banking Crisis? - The Journal. - WSJ PodcastsWhen Silicon Valley Bank imploded last week, it was the second biggest bank failure in U.S. history. Then, over the weekend, another bank, Signature Bank, was also taken over by the government. WSJ financial editor Charles Forelle explains what kicked off this banking crisis and how the government is scrambling to contain it. Further Reading: - How Silicon Valley Turned on Silicon Valley Bank - Silicon Valley Bank Closed by Regulators, FDIC Takes Control - Were SVB and Signature Bank Just Bailed Out by the U.S. Government?
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