July 23, 2024
Why First Republic’s rescue isn’t arresting a selloff in U.S. regional bank stocks

Why First Republic’s rescue isn’t arresting a selloff in U.S. regional bank stocks

Stock-market investors didn’t get much time to enjoy a brief period of relief for stocks following JPMorgan Chase & Co.’s takeover of First Republic Bank. 

The seizure on Monday of troubled First Republic FRC and the subsequent takeover by JPMorgan Chase JPM failed to arrest a slide in U.S. regional bank stocks on Tuesday, as weak economic data and a fast-approaching U.S. debt deadline put renewed pressure on the economy.

Exchange-traded…

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