The closure of Silicon Valley Bank ($SIVB@US) and Signature Bank ($SBNY@US) has spread fear among investors despite regulators’ efforts to eliminate the risks associated with the bank closures. First Republic Bank ($FRC@US) plummeted more than 60 percent in premarket trading. PacWest Bancorp ($PACW@US) shares fell by more than 40 percent in premarket trading, and Western Alliance’s ($WAL@US) stock fell by more than 51 percent. Bank of America ($BAC@US) fell 4.2 percent. JP Morgan ($JPM@US) fell by about 1.4 percent, and Citigroup ($C@US) was down 2.25 percent. PNC ($PNC@US) Bank lost nearly 5.2 percent.
