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LIVE NEWS: US bank stocks fall in pre-market trading after SVB collapse

US bank stocks hit opening bell in New York as First Republic Bank leads declines, even after federal regulators act to strengthen banking system following collapse of Silicon Valley and Signature banks I was under pressure up front.

Major banks fell, with stocks of regional lenders the hardest hit. First Republic Bank shares fell more than 64% to $29.86 after a 70% drop.

Western Alliance Bancorp shares dropped more than 53% to $22.99, while PacWest Bancorp shares dropped almost 38% to $7.75.

Shares of Zions Bancorporation and KeyCorp fell 17% and 8%, respectively, on moderate declines.

SPDR S&P Regional Banking Exchange Traded Funds fell about 7%.

Shares of the big four US banks, JP Morgan, Citigroup, Bank of America and Wells Fargo, fell between 1.1% and 3.8% in premarket trading.

https://www.ft.com/content/21d9c4c5-8877-44ef-91ca-12a2708e208e LIVE NEWS: US bank stocks fall in pre-market trading after SVB collapse

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