US Banks Lose Nearly $190 Billion in Market Value in Past Three Trading Sessions at Stock Market
First Republic Bank shares dropped more than 60% after reports of new financing failed to persuade investors, and rating agency Moody's contemplated downgrading the bank.
Major American banks suffered a loss in stock market value of roughly $90 billion on Monday, bringing their loss over the previous three trading days to almost $190 billion. This happened after recent collapse of Silicon Valley Bank. Local American banks took the biggest impact. Shares of First Republic Bank fell more than 60% after investors were left unconvinced by reports of new financing, and rating agency Moody's considered downgrading the bank. A recent tweet by The Spectator Index read, “US banks have now lost around $190 billion in market value over the past three stock-market trading sessions.” U.S. Banks Must Seek Regulatory Permission Before Engaging in Certain Crypto Activities, Says Regulator.
Check Latest Tweet by The Spectator Index:
(SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. The above post is embeded directly from the user's social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any responsibility or liability for the same.)