US Bank Scare Wipes Out $100 Billion: Global Markets Plunge as “Cockroach” Fears Spread
US Regional Bank Troubles Spark Global Selloff Financial markets were hit by a flash of déjà vu as two U.S. regional banks revealed shock loan problems that sent their stocks into freefall and spooked investors worldwide. On Thursday, Zions Bancorporation of Utah announced it would write off $50 million on two commercial loans and even alleged borrower fraud, while Arizona-based Western Alliance disclosed it is suing to recover about $100 million on a bad loan tied to suspected fraud n-tv.de n-tv.de. These seemingly small-scale credit issues – on loans run through a private investment fund – had an outsized impact on market
