To gain visibility and control over your financials, inventory, HR, e-commerce, and more,

take advantage of the special financing offer of no payments or interest for six months from

NetSuite by Oracle. Go to NetSuite.com slash Wall Street. That's NetSuite.com slash Wall Street.

Regional bankshare slide despite assurances about the stability of the sector.

The broader issue here is that the Federal Reserve raised interest rates very quickly last year

and into this year. And that has put a lot of changes into place for banks. Plus, Congress is

still wrangling over the debt ceiling. Congress has a history of enacting short-term debt limit deals

while they work on a bigger package. And four proud boys are found guilty of seditious

conspiracy in connection with the January 6th, 2021 capital riot. It's Thursday, May 4th.

I'm Ann Marie for Tolly for the Wall Street Journal. This is the PM edition of What's News,

the top headlines and business stories that moved the world today.

It's a tough period for regional banks, who stalks tumbled again today, despite assurances

from the Federal Reserve that the banking system is on solid footing. As we discussed in our

morning show, shares of PAC-West plummeted after a report that it was considering selling itself.

And a bit later, Canada's Toronto Dominion Bank, or TD Bank, called off its merger with first

horizon, citing regulatory hurdles in the decision to terminate the deal. That sent first horizon

shares down. So, is there fear of contagion for regional banks or not? To discuss this, I'm

joined now by Wall Street Journal Banking and Finance reporter Ben Eisen. So, Ben, let's start with

that merger between TD and first horizon. It comes at a precarious time for the banking sector overall,

following the sale of first or public bank to JP Morgan Chase earlier this week. And, of course,

on top of the collapses of Silicon Valley Bank and signature bank in March. So, what does the

collapse of this merger mean more broadly? As you said, it really was not a good time for

...