First Republic shares plunge again despite rescue by giant US banks
(Photo: AFP)
LONDON: US and European stock markets fell on Friday as fears over the health of the banking system festered despite the latest efforts to shore up troubled lenders and tamp down contagion risks.
Wall Street opened lower following a rally the previous day while European markets fell into the red after starting the day in the green.
“The negative disposition for the broader market has a familiar driver: worries about the state of the banking industry,” said market analyst Patrick O’Hare at Briefing.com.
Markets had rebounded after several Wall Street titans including JP Morgan, Bank of America and Citigroup stumped up…
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
