Regional Bank Stocks Plunge as Gloom from First Republic Failure Sinks Markets

Regional Bank Stocks Plunge as Gloom from First Republic Failure Sinks Markets
A First Republic Bank location in Newport Beach, Calif., on May 1, 2023. John Fredricks/The Epoch Times
Tom Ozimek
Updated:
0:00

A day after U.S. financial regulators ordered First Republic Bank closed and JPMorgan Chase agreed to take it over in a rescue move, other regional bank stocks have plunged.

In early trading on Tuesday, regional bank stock indexes fell sharply amid persistent jitters following Monday’s regulatory decision to seize First Republic and then facilitate its sale to JPMorgan, marking the second-biggest bank failure in U.S. history.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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