US Federal and State officials are assessing possible market manipulation regarding banking shares, according to a Reuters report. The source says many US regional banks have sound fundamentals and stable deposits while remaining well-capitalized.
On the one hand, these reports are about hiring consultants to sell companies sound fishy and WAL adamantly denied them. On the other sound, whining about market manipulation always looks like a panic move.
The headlines don't appear to have helped but regional bank stocks earlier bounced from the lows:
- KRE -5.0%
- PACW -41.5%
- WAL -32.6%
- ZION -12.5%
