PacWest Shares Plunge 60%, More Banks Drawn Into Quagmire.

MSN: PacWest Shares Plunge 60%, More Banks Drawn Into Quagmire.

PacWest shares plunged by 60 percent in after-hours trading Wednesday, raising concerns that the Los Angeles-headquartered bank might be the latest victim of the turmoil sweeping through the banking sector ever since the collapse of Silicon Valley Bank (SVB) in March.
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Growing anxiety over the fate of PacWest and other smaller banks in the future would likely increase pressure on the Fed, which in the aftermath of the SVB's collapse was widely expected to pause its interest rate hikes.

Another smaller bank, Western Alliance, saw its shares drop by as much as 38 percent in after-hours trading on Wednesday.

But despite predictions and expectations, the Fed has so far persisted in its strategy.

^ The Fed's Strategy ^

Maybe...if we all started wearing masks again the bank failures will stop.