US regional banks fall in tandem with Wall Street

PacWest Bancorp

02/08/2023 16:15

** Shares of U.S. regional banks drop as Fitch's downgrade
of U.S. government's credit rating rattles markets
    ** KBW Regional Banking index  .KRX  drops 1.6%
    ** PacWest Bancorp  PACW.O , KeyCorp  KEY.N  and Western
Alliance Bancorp  WAL.N  down between 2.6% and 2%
    ** Fitch on Tuesday downgraded the U.S. government's top
credit rating to AA+ from AAA
    ** Shares of JPMorgan Chase  JPM.N , Bank of America
 BAC.N , Wells Fargo  WFC.N , Citigroup  C.N , Goldman Sachs
Group  GS.N  and Morgan Stanley  MS.N  down between 0.7% and
1.5% 
    ** Banks have been navigating a tough regulatory period in
the aftermath of the crisis earlier this year, as federal
government agencies propose an increase in capital requirements
for the big lenders
    ** S&P 500 index  .SPX  is down 1.3%
    

 (Reporting by Niket Nishant in Bengaluru)