First Republic bounces back as SVB panic lessens

Shares of First Republic Bank, a financial institution in the United States that does business with startups, are rebounding today after a punishing start to the trading week.
Caught in the wake of the shock collapse of erstwhile rival Silicon Valley Bank, shares of First Republic fell 62% yesterday. Investors, concerned that actions taken over the weekend by the American government to stem a potentially budding banking crisis might not be sufficient, sold First Republic and other, related banking stocks like PacWest and Western Alliance.
Today they are all on the bounce: First Republic is up

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