Bank Shares Walloped by More AI and ‘Cockroach’ Credit Woes

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000US Stocks:Financial firms ended February where they spent much of the month: enduring another dizzying blow from the threat of artificial intelligence and grappling with signs those cockroaches Jamie Dimon warned about in the world of private credit are starting to scurry.The combination delivered another bruising selloff in shares of banks and asset managers Friday. The KBW Bank Index slumped 4.9%, dragging the group to levels last seen in early December. It’s worst session since April’s trade turmoil. All 23 members slid at least 1.9%, with Western Alliance Bancorp, Goldman Sachs Group Inc. and Zions Bancorp NA among the worst performers.