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First Republic Bank plunges 49% on Wall Street after massive withdrawal of deposits

2023-04-25T20:24:34.874Z


Investors are worried about the future of the company as its clients have withdrawn more than $100 billion in cash.


U.S. bank First Republic slumped on Wall Street on Tuesday as investors worried about the company's future as customers withdrew more than $100 billion in deposits in the first quarter.

Read alsoFirst Republic Bank: behind the scenes of a $30 billion bailout

The action ended Tuesday down 49% on the New York Stock Exchange after being suspended several times during the session, in the wake of the publication of its financial results Monday evening.

Source: lefigaro

All news articles on 2023-04-25

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