Regional Bank Stocks rebounds from recent low
Shares of regional banks were on the rise Tuesday amid a tumultuous period for the sector.
The SPDR S&P Regional Banking ETF jumped 5.4%, on track for its best day since January 2021.
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Regional Bank Stocks On Pace For Best Day Since 2021
Shares of regional banks were on the rise Tuesday amid a tumultuous period for the sector.#banking #stocks pic.twitter.com/qTQ9sEwYX6— The_Journalbiz (@the_journalbiz) March 21, 2023
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The moves come as Treasury Secretary Janet Yellen on Tuesday said the federal government could step in to protect depositors at additional banks if regulators see a risk of a run on the banking system.
Meanwhile, shares of First Republic Bank soared after the Journal reported that JPMorgan Chase CEO Jamie Dimon is leading discussions with other bank chiefs about a rescue plan for the bank.
New York Community Bancorp added more than 6%, rising for a second straight day after the Federal Deposit Insurance Corp. said Sunday that the company’s Flagstar Bank will take on nearly all of Signature Bridge Bank’s deposits.
