First Republic Bank’s shares plunge as it reveals more than $100bn of withdrawals
The bank, which was saved from possible collapse by a $30bn cash injection agreed by major lenders, saw its stock drop by up to 29% at the market open on Tuesday. They closed almost 50% lower, leaving its market value 93% lower in the year to date below $3bn. It followed the release of its […]
First Republic Bank shares plunge 60%
Shares of First Republic Bank plunged nearly 60% in premarket trading on Monday, even after the regional lender announced measures to bolster its balance sheet. Shares of other regional banks and financial firms are also faltering, indicating lingering jitters despite an aggressive federal response announced Sunday night to protect Silicon Valley Bank and Signature Bank […]
