What's Going On With Western Alliance Stock (WAL)?

Western Alliance Bancorporation WAL shares are trading lower by 2.73% to $47.03 during Tuesday's session. The stock is falling after S&P Global Ratings downgraded several regional banks.

Downgrades of multiple peer regional banks by S&P Global Ratings could signal challenges within the broader regional banking sector. If several banks are facing credit rating downgrades, it might suggest a broader trend of financial instability or economic uncertainty.

This sentiment could extend to Western Alliance and lead investors to worry about the health of the sector overall, potentially prompting them to sell the stock.

What Happened?

S&P Global Ratings has cast a spotlight on the challenges faced by several U.S. regional banks, resulting in a series of downgrades that have reverberated through the financial sector.

According to the renowned rating agency, the Federal Reserve’s tight grip on monetary policy is now putting a strain on the funding, liquidity, and revenue of many U.S. banks. Among the banks affected by the downgrades...Read More

According to data from Benzinga Pro, WAL has a 52-week high of $83.36 and a 52-week low of $7.46.