Shares of banks and other financial institutions fell as a relief rally in regional banks faded.
The SPDR S&P Regional Bank exchange-traded fund fell by more than 2%, giving back a chunk of its gains from last week. Property-and-casualty insurer Allstate stopped offering new home-insurance policies in California, citing the expenses of insuring homes threatened by wild-fires.
Zurich giant UBS Group said it expects to complete its acquisition of crosstown rival Credit Suisse Group and have the shares of Credit Suisse delisted as early as next week.
Blackstone agreed to sell the JW Marriott San Antonio Hill Country Resort & Spa for $800 million in what would be the second largest single-asset hotel deal in recent years.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-05-23 1719ET
