US stock market: S&P 500, Dow end down as PacWest fuels fears of deeper bank crisis

Shares in regional banks decreased, and fears about the health of US lenders intensified, sending Wall Street lower on 22 April. The KBW Regional Banking index fell by 3.5%, signalling the fourth consecutive day of declines on the S&P 500. The decline was triggered in part by the confirmation that PacWest Bancorp was exploring strategic moves, including a sale, which drove its shares down 51%. Toronto-Dominion Bank Group’s decision to abandon its $13.4bn acquisition of First Horizon Corp also fuelled concerns.