*DOW, S&P 500 WEIGHED DOWN BY DISNEY $DIS; PACWEST $PACW LEADS REGIONAL BANKS LOWER $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
Lifting the Nasdaq, shares of Alphabet Inc rose 4.5% a day after Google rolled out more artificial intelligence products to take on competition from). Microsoft shares fell 0.8% and were among the biggest negative influences on the S&P 500 and Nasdaq.
PacWest Bancorp shares dropped 21% after it reported a drop in deposits last week and pledged an additional $5.1 billion of its loans to the central bank. Other regional bank shares fell as well as the news renewed worries about the industry's health following the recent collapse of three regional lenders."I don't think you can say that it is a widespread issue. It is still very much bank by bank. But there's very likely to be more consolidation and more headaches for regional bank investors," said Oliver Pursche, senior vice president and advisor at Wealthspire Advisors in Westport, Connecticut.The energy index fell 1.
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