What did Zions Bancorp & Western Alliance do, and why is Wall Street so volatile?

Core Insights - Zions Bancorp announced a $50 million charge-off related to two troubled loans at its California Bank & Trust unit [1] - Western Alliance Bancorp is suing a borrower for alleged fraud, indicating potential issues in loan management and borrower reliability [1] Company Summaries - Zions Bancorp is facing challenges with its loan portfolio, as evidenced by the significant charge-off, which may impact its financial stability and investor confidence [1] - Western Alliance Bancorp's legal action against a borrower highlights risks associated with credit quality and the need for stringent due diligence in lending practices [1]