Trading of several bank stocks was halted by exchanges on Monday morning due to volatility, following the failure of Silicon Valley Bank on Friday and Signature Bank on Sunday.
The stops in trading occurred shortly after the markets opened at 10 am ET.
The Wall Street Journal reported that stock sales have been temporarily halted for PacWest Bancorp, Zions Bancorporation, First Republic Bank, and Regions Financial.
According to reports, the stops in trading were put in place to prevent panic selling and to give investors time to reassess the situation.
The halt in trading will allow regulators to monitor the situation and take any necessary action to stabilize the markets.
The failure of Silicon Valley Bank and Signature Bank has raised concerns about the health of the banking industry.
The recent volatility in the market has also led to increased scrutiny of the banking sector, with many investors worried about the potential for more failures.
