Wall Street closes little changed

Frankfurt The emergency takeover of the ailing US regional bank Bank First Republic by the US market leader JPMorgan caused a mixed response on the US stock exchanges on Monday. While shares in JPMorgan and other major banks rose, shares in smaller institutions fell. The Dow Jones index ended 0.1 percent weaker at 34,051 points. The tech-heavy Nasdaq also fell 0.1 percent to 12,212 jobs. The broad S&P 500 closed little changed at 4167 points.

JPMorgan expands its portfolio with the takeover of significant parts of the assets of the First Republic, which was already the third bank to falter within two months after the massive withdrawal of customer deposits. The San Francisco-based First Republic itself was placed under receivership by California regulators and the state Deposit Insurance Fund.