Hey there,
TD's exposure to the US (given its exposure the Charles Schwab) is certainly what led to the most recent downturn. Furthermore, TD is in the process of acquiring Frist Horizon, a large regional bank. Given what has happened with SVB and the other regional banks, there are questions as to whether or not TD will proceed with the deal, if it will be reworked or if they'll drop it completely. The company hasn't given an indication either way so for now, there exists uncertainty around that deal and markets don't like uncertainty.
That said, we still like TD and think it is one of the best banks in the country. It is why we have it on our Dividend Bull List and why I'd have no problems holding or adding to it here. If uncertainty makes you uncomfortable, then holding until we get clarity on how the regional banks fare over the next few months and to see how the FH deal pans out is not a bad thing. All in all however, I certainly do not believe it is a sell. I own TD and have zero intentions on selling. If fact, if my bank positions weren't already inline with my allocations, then I'd probably be adding.
Mat