Stocks slid, extending a weeklong stretch of volatility on Wall Street, as bad loans at two regional banks stirred concern about credit quality in the economy and further underscored the fragility of the $28 trillion bull market. Bitcoin tumbled, while bonds and gold rose.
Following an earlier advance driven by another solid outlook for artificial-intelligence demand, the S&P 500 turned lower as a pair of regional lenders disclosed problems with loans involving allegations of fraud, adding to concern that more cracks are emerging in borrowers’ creditworthiness.
Stock rally sputters.
Photographer: Michael Nagle/Bloomberg
Zions Bancorp sank 13% after it disclosed a $50 million charge-off for a ...
