By Scott Kanowsky
Investing.com -- Stocks in focus in premarket trade on Wednesday, March 15th. Please refresh for updates.
- Shares in U.S. regional banks dropped, paring back gains notched on Tuesday, as a sell-off in European lenders freshened concerns over a potential banking crisis sparked by last week's collapse of Silicon Valley Bank. First Republic Bank (NYSE: FRC ), Western Alliance Bancorporation (NYSE: WAL ), Comerica Inc (NYSE: CMA ), KeyCorp (NYSE: KEY ), Zions Bancorporation (NASDAQ: ZION ) and PacWest Bancorp (NASDAQ: PACW ) all fell.
- Larger banks, including Bank of America Corp (NYSE: BAC ), Wells Fargo & Company (NYSE: WFC ) and Morgan Stanley (NYSE: MS ) also dipped into the red.
- U.S.-listed shares in Credit Suisse (SIX: CSGN ) Group (NYSE: CS ) shed more than a fourth of their value and touched a fresh record low after its top stakeholder, Saudi National Bank, ruled out offering more assistance.
- Apple Inc (NASDAQ: AAPL ) shares slipped after key supplier Foxconn (TW: 2354 ) said it plans to rely less on its operations in China in an earnings call.
- Meta Platforms Inc (NASDAQ: META ) shares are lower as the Facebook owner embarks on a new round of layoffs. The dismissals are part of cost-cutting measures planned in Chief Executive Mark Zuckerberg's so-called "year of efficiency."
- Lennar Corporation (NYSE: LEN ) rose after the homebuilder reported better-than-expected top- and bottom-line returns in its fiscal first quarter.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.