First Republic’s stock fell 47% to a record low Monday, as the bank struggled to persuade Wall Street it could remain viable.
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53° F
51° F
First Republic’s stock fell 47% to a record low Monday, as the bank struggled to persuade Wall Street it could remain viable.
It may seem surprising that First Republic, a midsize bank catering to wealthy clients in coastal states, became such a danger to the American banking system that the government had to cudgel the industry to stage an intervention.