Despite the best efforts of President Biden, the Federal Reserve, the Treasury, and the FDIC to assure Americans that everything is A-OK after the colossal failures of Silicon Valley Bank and Signature Bank, investors were not feeling the happy vibes – and sent shares of smaller, regional banks down to the depths of Davy Jones's Locker.

Small banks are seen as more susceptible to "death by bank run," as frantic withdrawals by panicked customers could bleed them dry much quicker than the larger national banks.

The trading action got so bloody today that dozens of bank stocks were halted during the trading day, some more than once.

Here is a sampling of how some of these stocks ended the trading day (in no particular order, other than starting with the biggest loser of the day, First Republic, which got absolutely HAMMERED):

Many are trying to regain some lost ground in after-hours trading, but that means precisely nothing. Where they'll be at the opening bell tomorrow – or 10 minutes from now – is anybody's guess. This situation changes by the minute.

It's important to remember that massive declines in a bank's stock can trigger panic – the type of panic that can lead to banks runs – the type of bank runs that can lead to bank deaths. See Silicon Valley Bank, currently residing in Davy Jones's Locker.

Volatility in regional banks should remain hellish for the near future. I would not be surprised at all to see the FDIC take over more banks, or to see some bought up by larger, healthier institutions.

How much better are we building back, guys? So much better!

Fun times ahead. Stay tuned.