Regional Banks Smashed Despite Reassurance From Nat City (NCC) and WaMu (WM) That All is Okay
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Announcements from National City (NYSE: NCC) and Washington Mutual (NYSE: WM) that they are seeing 'business as usual', following news this weekend of a run and subsequent FDIC takeover of IndyMac (NYSE: IMB), is doing little to soothe investors fears in regional banks.
National City Corporation (NYSE: NCC) is down 30%
Washington Mutual Inc. (NYSE: WM) is down 30%
KeyCorp (NYSE: KEY) down 8%
M&T Bank (NYSE: MTB) down 15%
FirstFed Financial Corp. (NYSE: FED) is down 35%
Wachovia Corporation (NYSE: WB) down 12%
First Horizon National Corp. (NYSE: FHN) down 24%
Zions Bancorp. (Nasdaq: ZION) down 20%
Sovereign Bancorp Inc. (NYSE: SOV) down 14%
Regions Financial Corp. (NYSE: RF) down 13%
Fifth Third Bancorp (Nasdaq: FITB) down 11%
BB&T (NYSE: BBT) down 6.5%
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