Two U.S. banks, Zions and Western Alliance, disclosed losses due to fraud involving non-performing commercial mortgage loan investment funds. Although the amount involved was only tens of millions of dollars, it raised concerns about credit quality in the market. The U.S. regional bank index closed down 6.2% on Thursday, with financial stocks weakening across the board.
Additionally, investment bank Jefferies, which has exposure to the previously bankrupt auto parts supplier First Brands, saw its stock price close down 10.62% on Thursday.Although some analysts believe the risks remain isolated incidents, market sentiment has clearly turned cautious, with concerns brewing about a broader credit crisis.The copyright of this article belongs to the original author/organization.
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