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Mar 13, 2023 thejournalbiz

Stocks opened lower Monday as investors piled into haven assets(government bonds and gold), after regulators moved to limit the collapse of Silicon Valley Bank.

The S&P 500 fell 1%, and the Dow Jones Industrial Average declined 0.7%, or about 230 points.

Tweet on trending stocks

Marketwatch
First Republic: Shares fell more almost 60% premarket

PacWest Bancorp shares were down 30% premarket

Bank of America shares fell almost 4% premarket

Illumina shares rose 3.7% premarket

Seagen shares rallied 18% premarket #Trending #stocks pic.twitter.com/8H0xzY7mIj

— The_Journalbiz (@the_journalbiz) March 13, 2023

Factset Chart

Trending stocks today are:

First Republic: Shares fell more almost 60% premarket after the bank said it has shored up additional funding from the Federal Reserve and JPMorgan Chase.

PacWest Bancorp shares were down 30% premarket and Western Alliance Bancorp fell 30%, as investor jitters spread to other regional lenders, after Signature Bank was closed by regulators on Sunday.

Bank of America shares fell almost 4% premarket and Citigroup and JPMorgan Chase also retreated, after regulators announced emergency measures to ease fears depositors might pull their money from smaller lenders.

Illumina shares rose 3.7% premarket after The Wall Street Journal reported Carl Icahn was preparing a proxy fight.

Seagen shares rallied 18% premarket after Pfizer said it would buy the biotech company. Pfizer shares fell 3% premarket.