Finance
Wall Street Is Betting the Regional Bank Crisis Isn’t Over Yet
- Academics flag lingering industry risks as stocks sink anew
- Deposit flight, plunge in asset values threaten fresh turmoil
This article is for subscribers only.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon made a bold call on Monday: his firm’s rescue of First Republic Bank ended the initial phase of the turmoil engulfing banks.
Twenty-four hours later, that prediction was already looking shaky as Wall Street traders drove down shares of regional banks in a rout that resembled the dark days of March. Several sank more than 10%.