First Republic Bank loses over 40 percent – Dow Jones closes in positive territory

Denver, New York On Wall Street, investors breathed a sigh of relief at the start of the week after the emergency takeover of the ailing Credit Suisse. The Dow Jones index rose by a good 1.2 percent on Monday and stood at 32,245 points. The broader S&P 500 closed 0.9 percent higher at 3,952 points. The index of the technology exchange Nasdaq also increased slightly and ended the trading day at 11,676 points.

At the same time, the First Republic Bank share had to accept massive price losses again. The San Francisco bank lost 47 percent in value. However, reports of a new bailout gave the paper a slight boost during the day. The CEOs of large US banks are said to be working on a new plan for the bank, as reported by the Wall Street Journal.

Read on now

Get access to this and every other article in the

Web and in our app free of charge for 4 weeks.

Further

Read on now

Get access to this and every other article in the

web and in our app.

Further

source site-12