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from Pac West already battered stocks fell 45% in premarket trading. The bank said it was in discussions with potential partners and investors and would continue to evaluate “all options to maximize shareholder value”.
A series of other regional lenders received sympathy before the opening bell: Western Alliance Bancorp was down 23%, while Comerica and Zions Bancorp were down 9% and 10%, respectively. First Horizon sank nearly half after its $13.4 billion sale to Toronto’s TD Bank was called off.
Oil stabilized after being confused. The most traded contracts for WTI, the US benchmark, hovered around $69 a barrel early Thursday after a mini-flash crash. They are down more than 10% in the past three sessions.
Gold prizes won, briefly surpassing their record of closing time in Asian trading hours before offsetting gains. The precious metal recently rose more than 0.7% to about $2,051 per troy ounce.
Index futures were lower, ahead of a big earnings day, with Apple and other big companies on tap. Government bond yields remained stable.
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Sources 2/ https://www.wsj.com/livecoverage/stock-market-today-dow-jones-05-04-2023 The mention sources can contact us to remove/changing this article |
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