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US banks experience volatility and trading halts amid bank failures and presidential assurances

March 13, 2023


Banks saw their share prices take a rollercoaster ride over the weekend and into March 13. Trading was temporarily halted for dozens of United States regional banks amid volatility and falling prices.

The Wall Street Journal reported early in the morning that trading was halted for First Republic Bank (NYSE:FRC), which led bank losses when its price fell 65% by the time trading was stopped. Trading in PacWest Bancorp, down 25%; Zions Bancorp, down 25%; and Regions Financial (NYSE:RF), down 9%, was also halted.