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AmextaFinance > Markets > Bank ETFs hold steady after JPMorgan Chase takes over First Republic after FDIC seizure of troubled bank
Markets

Bank ETFs hold steady after JPMorgan Chase takes over First Republic after FDIC seizure of troubled bank

News Room
Last updated: 2023/05/02 at 8:26 PM
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U.S. exchange-traded funds that invest in bank stocks were steady on Monday morning after regulators seized troubled First Republic Bank , making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to head off renewed stress in the country’s banking system. Shares of the SPDR S&P Regional Banking ETF were down 0.5% and the SPDR S&P Bank ETF dropped 0.3%. The Invesco KBW Bank ETF was 0.7% lower, while the Invesco KBW Regional Banking ETF declined by 0.8%, according to FactSet data.

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News Room May 2, 2023 May 2, 2023
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