The Dow Jones’ Volatile Ride: SVB Rescue Plan Sparks Market Reversal, First Republic and Charles Schwab Plunge on Bank Fears
On Monday, the Dow Jones Industrial Average reversed higher amid the ongoing crisis among U.S. banks. The FDIC and other financial regulators guaranteed all deposits of SVB Financial (SIVB), while regulators took control of Signature Bank (SBNY). However, San Francisco’s First Republic (FRC) crashed 77% in morning trade despite receiving additional funding from the Federal … Read more