Dow, S&P 500 fall with Disney; PacWest leads regional banks lower

Shares of Walt Disney Co fell 8.7% on Thursday after the company reported that total subscribers to its flagship Disney+ service decreased, dragging down the Dow and the S&P 500. Meanwhile, PacWest Bancorp led declines in regional banks after reporting a decrease in deposits, reviving concerns over the industry’s health. The Nasdaq was lifted, however, by shares of Alphabet Inc, which rose 4.3% as Google unveiled more artificial intelligence products. The energy sector fell along with declining oil prices, while the U.S. Federal Deposit Insurance Corporation said 113 of the country’s largest lenders will bear the cost of replenishing the $16bn in coverage provided during the crisis.