PacWest's rollercoaster ride impacts regional bank stocks.
Shares of PacWest Bancorp led declines in U.S. regional lenders at market open on Tuesday as investors feared the ongoing banking crisis could deepen. PacWest and Western Alliance, which have been at the heart of the sell-off in regional banks, saw the steepest decline in deposits in the first quarter after First Republic. U.S. firms of all sizes were showing less demand for credit than three months ago, according to a Federal Reserve survey, among the first measures of sentiment across the sector since the recent run of bank failures.