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First Republic, other regional bank stocks sink after failure of Silicon Valley Bank - TL;DR CNBC

First Republic, other regional bank stocks sink after failure of Silicon Valley Bank

Publishing timestamp: 2023-03-10 16:12:32


Summary

SVB Financial failed to find a buyer and was shut down by regulators due to a rapid outflow of cash from clients. This caused regional and midsized bank stocks to fall sharply, with the S&P Regional Bank ETF experiencing its worst week since March 2020. While other banks with large bond portfolios could face similar issues, analysts believe that the problems at SVB are unlikely to spread to the broader banking sector.


Sentiment: NEGATIVE

Tickers: SIVBFRCPACWKRESBNY

Keywords: financialspacwest bancorpsignature bankfirst republic bankspdr s&p regional banking etfbreaking news: marketsmarketsbusiness newssvb financial groupbanks

Source: https://www.cnbc.com/2023/03/10/first-republic-leads-regional-bank-rout-as-silicon-valley-bank-crisis-raises-fears-about-bond-losses.html


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