Global markets rebound after US lenders rescue First Republic Bank
Markets in Europe and Asia rebounded Friday after First Republic Bank was rescued by a group of major US lenders, easing worries about the current banking turmoil.
“Some optimism has returned to markets over the last 24 hours, with bank stocks stabilizing on both sides of the Atlantic,” Deutsche Bank analysts said in a note Friday.
First Republic Bank (FRC) is set to receive a $30 billion lifeline from a group of America’s largest banks, including JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (CBEAX), Citigroup (C) and Truist (TFC).
By and , via CNN