FRC - Why Stocks Jumped on First Republic's Bailout -- But First Republic Stock Fell
2023-03-16 19:24:00 ET
The stock market has been extremely concerned about the state of the banking system, with several banks already having failed and others seemingly under pressure. So it came as little surprise that when a plan to provide ailing First Republic Bank (NYSE: FRC) with a massive infusion of deposits got announced, the reaction in major stock market indexes was positive. The Nasdaq Composite (NASDAQINDEX: ^IXIC) was once again the big winner, but the rises in the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) weren't too shabby.
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Why Stocks Jumped on First Republic's Bailout -- But First Republic Stock Fell