Shares of First Republic Bank plunge further into an abyss amid mounting speculation over US regional bank's way forward after it reported a big fall in deposits
Latest free fall follows First Republic's disclosure that it lost more than $100 billion in deposits in the first quarter. / Photo: AFP Archive
After dropping more than 50 percent earlier on Friday, shares of First Republic finished the day at $3.51, down 43 percent following numerous trading halts due to volatility. The latest free fall follows First Republic's disclosure on Monday that it lost more than $100 billion in deposits in the first quarter.
Since then, various news reports have focused on potential rescue packages involving other banks. But so far nothing concrete has materialised.
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