Stock Market News 17 October 2025

Fraud Shocks at Regional Lenders Ignite a Selloff This week’s drama began when Zions Bancorporation, a Utah-based regional bank, revealed a major loan fraud that blindsided investors. In an SEC filing on Oct. 15, Zions said it discovered “misrepresentations and contractual defaults” in two large commercial loans (~$60 million total) made by its California Bank & Trust unitts2.tech. The borrowers – investment funds tied to financiers Andrew Stupin and Gerald Marcil – allegedly used the money to buy distressed mortgages, then shuffled the collateral to other entities, according to Zions’ lawsuit (the borrowers deny the allegations)straitstimes.comstraitstimes.com. Zions moved quickly: it accelerated

Fraud Bombshell Sends Zions Stock Reeling Zions Bancorp, a Salt Lake City-based regional bank, dropped a stunning disclosure this week: it found evidence of potential fraud in two large commercial loans worth about $60 million ts2.tech. The borrowers – reportedly affiliated with an independent investment fund – allegedly misrepresented collateral and other information, prompting Zions to accelerate the loans to default and sue the guarantors in California ts2.tech. The bank wrote off $50 million of the exposure and set aside reserves for the rest, effectively recognizing a full $60 million hit ts2.tech. This charge-off will flow through Zions’ upcoming earnings, immediately denting Q3

Market Selloff Deepens on Credit Fears A wave of credit-related jitters hit Wall Street, igniting a broad selloff led by financial stocks. On Thursday, the Dow, S&P 500, and Nasdaq all shed nearly 1% of their value ts2.tech. The selloff was concentrated in regional banks, where bad loan news triggered outsized damage. Zions Bancorp disclosed a surprise $50 million loan charge-off, sinking its stock by double-digits, while Western Alliance revealed it is suing a borrower over alleged fraud – news that sent its shares tumbling as well ts2.tech. Even Jefferies, an investment firm, saw its stock slide on concerns about

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Trump’s Trade War Tantrum Shakes Markets After months of climbing to record highs, markets were blindsided in mid-October by an abrupt escalation in the U.S.–China trade conflict. On October 10, former President Donald Trump unleashed a “shock tariff ultimatum” via social media, vowing to slap 100% tariffs on all remaining Chinese imports and scrapping an upcoming peace summit with China’s President Xi reuters.com reuters.com. Beijing had moved to tighten exports of critical rare-earth minerals days prior, and Trump’s furious response signaled “Trade War 2.0” was on. The aggressive rhetoric stunned investors and “rattled markets”, erasing optimism that had driven stocks