The tsunami that has made its way into the American banking sector is not even close to stopping. First, it was decided to close the Silicon Valley Bank, then the Signature Bank was closed. Now the time has come to lock the First Republic Bank as well. This is the third large bank whose condition has deteriorated in just a week.
According to Bloomberg, the stock of First Republic Bank has registered a decline of 61.83%. If you look at the decline from last week, the price of First Republic Bank Stock has declined by 74.25%. Its price was $19 on the last trading day. It had reached the lowest level per share.
A similar situation was created for the Silicon Valley Bank and the Signature Bank and both of these banks got locked. Now there is a possibility of this one bank collapsing as well. This has become a big problem for the US government. President Biden left the event without saying anything about the question of banks sinking!
Dr. Ranjan Kumar – 15th March 2023