The Latest Breaking News from First Republic

The Dow Jones rallied even as the latest Fed meeting, led by Jerome Powell, looms. First Republic stock plunged. A Donald Trump stock surged.

“What the Fed saw as the big potential threats didn’t materialize, and the threat that did materialize they didn’t see coming,” says Thomas Hogan, a senior fellow at the American Institute for Economic Research.

Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

The Federal Reserve faces a pivotal decision on March 22, 2023: whether to continue its aggressive fight against inflation or put it on hold.

The Dow Jones rose Monday after UBS agreed to buy Credit Suisse, First Republic Bank plunged 20% on a credit rating downgrade.

Reports of a possible share sale, and a second ratings downgrade deeper into 'junk' status, has First Republic trading firmly lower Monday.

Stock futures slip lower as banking crisis spreads; Week Ahead: Fed meeting in focus as rate bets mixed; UBS buys credit Suisse for $3.3 billion, gets massive government support; First Republic shares slump after second S&P downgrade and New York Community Bancorp cuts deal to buy Signature Bank.

Deposits in the country’s banking system are stabilising, Reuters reported citing unnamed US official.

The rating agency has just downgraded the regional bank for the second time in a week.