Worried about the Western Alliance shares plummet? You're not alone. Recent reports of a potential sale exploration sent shockwaves through the market, causing a dramatic 53% crash in Western Alliance stock. This follows concerns that PacWest could be the next domino in the regional banking crisis, putting immense pressure on the troubled lender's shares. Trading in Western Alliance (NYSE:WAL) shares was halted on Thursday amidst the turmoil.

The initial plunge was triggered by speculation fueled by reports suggesting Western Alliance Bank had reportedly explored a sale, causing stocks to plummet. The reaction from investors was swift and severe, mirroring the struggles of other regional banks like PacWest. PacWest slumped 60 per cent, after having lost 29 per cent since Monday. Reuters had reported on Wednesday that PacWest was exploring strategic options including a sale.

However, Western Alliance quickly and vehemently denied these rumors. Western Alliance shares plunge: Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic options, the lender said. Investing.com reports that Western Alliance Bank has since denied the reports as categorically false. Despite this denial, the initial reports highlighting that Recently, it was revealed that Western Alliance bank might be exploring potential sale options continue to impact investor confidence.

Is Western Alliance truly stable? While the bank maintains it is not seeking a sale, the volatility demonstrates the fragile state of the regional banking sector. Keep checking back for updated information as we continue to monitor the situation.