Page 32 - Bart Hogan News Today

Market turbulence could reign supreme once again in the week ahead, as investors worry about the potential for more trouble rippling through the banking system.

NEW YORK, March 21 ― Shares of US lender First Republic tumbled nearly 50 per cent yesterday on fears it will need a second rescue to stay afloat, bucking a broader rally in...

Shares of U.S. lender First Republic tumbled nearly 50% on Monday on fears it will need a second rescue to stay afloat, bucking a broader rally in bank shares driven by UBS Group's state-backed takeover of Credit Suisse.

The collapse of SVB Financial Group has dumped volatility in bank stocks, opening up opportunities in leveraged ETFs from Direxion.

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * Credit Suisse U.S. shares tank after buyout by UBS * Firs... | 12:38pm

Ratings agency S&P Global also downgraded it deeper into junk status on Sunday, citing liquidity risks. JPMorgan Chase & Co CEO Jamie Dimon is leading talks with other big banks on new efforts to stabilize First Republic with a possible investment into the lender, the Wall Street Journal reported, citing people familiar with the matter.

By Noel Randewich, Medha Singh and Ankika Biswas (Reuters) - Shares of U.S. lender First Republic tumbled nearly 50% on Monday on fears it will need a

Bonds issued by major European banks fell after some Credit Suisse bondholders were wiped out in the deal, but UBS shares closed up 1.3%, bouncing from a 16% slump triggered by concerns about the long-term benefits of the deal and the outlook for Switzerland, once considered a paragon of sound banking. A deal on Sunday for a unit of New York Community Bancorp to buy deposits and loans from the failed Signature Bank also boosted sentiment in U.S. banks.

Despite the huge injection of private capital, markets appeared to still be worried that First Republic could be swept up in a growing banking crisis, and possibly forced to seek a buyer.

Financial stocks have lost over billions of dollars in value since the collapse of Silicon Valley Bank and Signature Bank last week