Business Standard

Wall Street falls on banking crisis worries; First Republic Bank tumbles

Indexes down: Dow 0.63%, S&P 0.36%, Nasdaq 0.25%

Wall Street
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Reuters
Wall Street's main indexes fell on Friday as investors remained wary about a potential banking crisis even as the country's largest banks came to the rescue of troubled regional lender First Republic Bank.

Big banks including JPMorgan Chase & Co and Morgan Stanley threw a $30 billion lifeline to First Republic on Thursday, calming some nerves and helping U.S. stocks notch gains in the previous session.

Shares of First Republic fell 20.7% in early trading after the bank suspended its dividend payout.

The lender's shares have taken a beating this week, slumping 66%, in a widespread bank selloff after the

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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