Bryan R Smith/Reuters
- Regional bank stocks plummeted again on Thursday as fears of another collapse rise and after the Fed continued with its interest rate hikes.
- Shares of PacWest Bancorp plunged about 40% after the struggling bank said it is weighing strategic options.
- First Horizon stock fell about 40% after canceling a planned merger with TD Bank.
The crisis in the regional banking sector was on full display yet again on Thursday, with PacWest Bancorp and First Horizon both plunging about 40%.
The SPDR S&P Regional Banking ETF fell 4% on Thursday and traded at its lowest levels since the COVID-19 pandemic in early 2020.