Why Truist Financial Stock Fell 19.1% This Week

Truist Financial (NYSE: TFC) took a hit this week as its share price dropped 19.1% this week from last Friday's close through 10 a.m. ET today, according to S&P Global Market Intelligence. The failure of SVB Financial's Silicon Valley Bank last week, followed by the subsequent failure of Signature Bank on Sunday, set the stage for a wild week for the banking industry and bank stocks. Truist, the nation's seventh-largest bank, largely got caught in the sell-off, as it hit regional banks and smaller community banks harder than it did the mega banks.