Banking Crisis: The back to back collapse of several U.S. regional banks has jolted the global financial markets. Data depicts that after the Buyout of First Republic Bank by JPMorgan regional banking stocks extend the pain run on Wednesday. PacWest Bancorp (PACW • NASDAQ) stock prices declined around 12% in pre-market trading. However, the question remains the same will market see another bank run at the end of this week?
Also Read: FOMC, ECB: Bitcoin To Face Tough Week Ahead; Here’s Why
Who’s Next On The Bank Run?
JPMorgan Chase (JPM.N) reportedly stated that it would buy most of the troubled First Republic Bank (NYSE: FRC) assets. Instead of witnessing a relief rally, banking stocks registered heavy selling.
PacWest Bancorp’s declining share price caught the attention of investors. It slid by worrying 28% to a record low in the last session to trade at $6.55. However, PacWest share price has dropped by almost 45% in the last 5 days.
The post Every Friday One US Bank Collapses; Who’s Next On The Bank Run? appeared first on CoinGape.
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