PacWest Bank's Future Uncertain as Stocks Tumble.
TL;DR Summary
The stock market opened lower as aftershocks from March's banking turmoil continued. PacWest's shares fell by 45% and other regional lenders also fell after the opening bell. Oil stabilized after a mini-flash crash and gold prices briefly surpassed their record closing high. Stock indexes fell ahead of a big earnings day, with Apple and other big companies on tap. Treasury yields held steady.
- Stock Market Today: Dow Opens Down After Fed Interest Rate Hike; PacWest, First Horizon Tumble The Wall Street Journal
- PacWest tumbles more than 35% as bank says it's considering 'all options' CNBC
- Business | May 6th 2023 Edition The Economist
- Stocks making the biggest moves before the bell: Paramount, PacWest, Shopify & more CNBC
- FirstFT: PacWest teeters on the brink Financial Times
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