First Republic Bank’s market value plunged below $1bn for the first time ever on Wednesday after a report said the United States government was unwilling to intervene in the rescue process, hammering the lender’s stock.After a brutal selloff, the bank’s market capitalization was about $886m at its lowest on Wednesday, a far cry from its peak of more than $40bn in November 2021.US government officials are currently unwilling to intervene in the First Republic rescue process, CNBC reported, citing sources.
Load More
Load More