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Regional Banks Stage Partial Recovery After Sharp Selloff

Regional bank stocks rose Wednesday after a sharp selloff a day earlier brought them to the lowest level since 2020.

Banks that have been under intense scrutiny attempted to claw back from double-digit losses from the previous session.

Tweet on regional banks

Factset chart on regional bank selloff

PacWest rose 6% and Metropolitan rose 7% in afternoon trading, after respective declines of 28% and 20%. Western Alliance was up about 4% after a 15% tumble.

Banks were broadly higher, with the KBW Regional Banking Index up about 2%. The index fell more than 5% a day earlier, as investors dumped regional bank stocks ahead of the Federal Reserve decision Wednesday.

Citizens and Fifth Third edged up slightly

Comerica climbed about 1%

PNC and Capital One were roughly flat

U.S. Bancorp was down slightly


Image: AMD