With the collapse of Silicon Valley Bank and Signature Bank, financial experts fear that the calamity will spread to other banks.
Monday morning’s chaos saw halted trading on banks and plummeting stocks.
Now, Moody’s Investors Service placed six banks on review for ‘downgrade.’
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It’s the latest sign indicating other banks may be on the verge of a collapse.
One of the banks on ‘downgrade watch’ is First Republic Bank.
Although it had a 50% rebound, First Republic dropped 66% in pre-market on Monday.
UPDATE – First Republic Bank rebounds +50% at market open.
— Disclose.tv (@disclosetv) March 14, 2023
The other banks on Moody’s downgrade watch list include:
Western Alliance Bancorp Intrust Financial Corp UMB Financial Corp Zions Bancorp Comerica Inc
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