SVB collapse: Three banks that could show if market has shaken off ‘contagion’
Stocks in regional banks rAfter sharp declines over the weekend, Tuesday saw some recovery. Silicon Valley Bank.
Key regional bank stocks such as Fifth Third Bancorp and KeyCorp saw gains during early market trading, despite experiencing their worst drop in three years on Monday. First Republic Up 20% KeyCorp reported a 12.2% increase as of Tuesday morning.
SVB COLLAPSE – HERE’S EVERYTHING YOU NEED TO KNOW
First Republic’s growth has been made possible by regulators who took extraordinary measures to avoid another collapse like that of SVB. The bank announced on Sunday that it had raised funding from JPMorgan Chase as well as the Federal Reserve. First Republic still reported that despite those measures, it was still able to report a 61.8% loss Monday: The most shares of any bank.
Other large banks like Wells Fargo, Bank of America and Morgan Stanley also reported growth Tuesday morning. Stock futures were up as of 7 :20 a.m. ET.
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