Panic selling in regional bank stocks resulted in losses for the major indexes Thursday.
PacWest Bancorp (PACW) suffered the most devastating decline, shedding half its value after the California-based lender said in a statement it is considering "strategic asset sales," and "will evaluate all options to maximize shareholder value." There were plenty of other headlines for investors to consider today, too, like the biggest initial public offering (IPO) in almost two years and a busy earnings calendar.
