BREAKING: US Banking Crisis - Bank Shares Plummet
Shares of major U.S. regional banks fell further on Tuesday in the aftermath of the collapse of First Republic Bank, the largest U.S. bank failure since the 2008 financial crisis.
Shares of PacWest Bancorp tumbled nearly 30%, while Western Alliance Bank and KeyCorp fell 21% and 10%, respectively.
The KBW Regional Banking Index was down 5.2%, hitting its lowest since December 2020.
Experts warn “If a 'confidence crisis' can happen to First Republic, it can happen to any bank in this country.”
Analysts from Evercore ISI speculate on the implications of JPMorgan being the government's first line of defense in the event of such a crisis.
The repercussions of our insatiable greed and reckless money printing have led us to the dire state in which we find ourselves YET AGAIN!
Things could get MUCH worse if the Fed doesn’t pivot.
