First Republic Bank shares slide 47%

By Associated Press

Mar 22, 2023 12:17 am

SHARES of First Republic Bank fell another 47 percent on Monday as investors remain uneasy about the bank's financial condition even after a group of the nation's largest financial institutions teamed up on a $30-billion rescue package.

Trading in First Republic shares was halted numerous times due to the volatility. The shares have dropped around 88 percent in the past two weeks.

UNEASINESS A security guard stands inside a First Republic Bank in the Chinatown neighborhood of Manhattan on March 16, 2023. Investors face uncertainty over the bank’s fate as its shares slumped anew on Monday, March 20, 2023. AP PHOTO

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