First Republic Bank's stock slid in an ongoing rout that has erased more than 50% of its value just this week on concerns about the bank's financial health in the wake of two other bank collapses.
A sign to a First Republic Bank location is shown in San Francisco, Tuesday, April 25, 2023. First Republic Bank’s stock plunged Tuesday after it said depositors withdrew more than $100 billion during last month’s crisis, with fears swirling that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank. A sign to a First Republic Bank location is shown in San Francisco, Tuesday, April 25, 2023.
First Republic Bank’s stock continued to slide Wednesday, an ongoing rout that has erased more than 50% of its value just this week on concerns about the bank’s financial health in the wake of two other bank collapses. Shares slumped nearly 20% in afternoon trading, following an even more severe tumble Tuesday, after it revealed that depositors withdrew more than $100 billion last month after the
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