Dow Jones futures dropped 250 points Friday, as regional bank First Republic dived after suspending its dividend. FedEx soared on earnings. Read More...
First Republic Shares Resume Slide as Investors Assess Aid
(Bloomberg) — First Republic Bank shares tumbled again on Friday, set for their worst week ever, as sentiment around the lender remained fragile even after proposals for $30 billion of aid from Wall Street’s biggest banks.Most Read from BloombergSchwab Clients Shift From Prime Funds to Government PortfoliosHow First Republic Bank Received a $30 Billion LifelineFirst Republic Set to Get $30 Billion of Deposits in RescueIn New York City, a $100,000 Salary Feels Like $36,000Banks Borrow $164.8 Bil