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Benzinga
Benzinga
Business
Chandrima Sanyal

Is Crisis Brewing Again? Regional Bank ETF Flashes Red As Shutdown Reaches Week 3

ETF KRE Jim Cramer First Brands US Federal Reserve
Etf,Investment,,Exchange,Traded,Funds.,Close-up,Red,Illuminated,Trading,Screen

Following a temporary lull, the regional bank storm has returned. On Oct. 16, the SPDR S&P Regional Banking ETF (NYSE:KRE) tumbled 6.2%, its biggest one-day decline since early 2023.

Meanwhile, new credit worries rolled over U.S. banks. Zions Bancorporation (NASDAQ:ZION) stock dropped 13%, while Western Alliance Bancorporation (NYSE:WAL) declined about 10%. Both firms reported losses related to soured business loans.

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