PacWest, Western Alliance shares tumble as US regional bank fears persist
JPMorgan Chase agreed on Monday to acquire a majority of First Republic’s assets in a $10.6 billion deal after regulators seized the lender, which became the largest U.S. bank failure since the 2008 financial crisis. Investors fear the latest turmoil, which began with the failures of Silicon Valley Bank and Signature Bank in March, could spread to other regional banks.
