Two San Diego banks have ties to those that were hammered on the stock market Monday in the wake of bank collapses.
Western Alliance’s stock price was down 45 percent Monday, and Zions fell 25 percent. Almost all bank stocks were down, but smaller ones were hit hardest as investors focused on those that have a concentration of niche clientele and exposure to interest-rate risk as the Federal Reserve pushes rates higher to fight inflation.from its parent.
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