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The Guardian - UK

Business

Dominic Rushe, Julia Kollewe and Lois Beckett in Los Angeles

Trading halted in shares of two more US lenders as fears of banking crisis mount

PacWest United States California Jerome Powell First Republic JP Morgan SVB Neil Wilson

Federal Reserve chair Jerome Powell — The sell-off came despite reassurances from the US Federal Reserve chair, Jerome Powell, that the banking system remained ‘sound and resilient’. Photograph: Saul Loeb/AFP/Getty Images

Trading in the shares of two more regional US lenders was temporarily suspended on Thursday amid a widening crisis for the country’s mid-sized banks.

Regulators stepped in to halt trading in the Los Angeles-based PacWest and Arizona’s Western Alliance following dramatic drops in their share prices.

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