U.S. stocks open mixed after regulators seize First Republic Bank, sell to JPMorgan Chase

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U.S. stock indexes opened mixed after JPMorgan said it has won the auction to take over fallen First Republic Bank after regulators seized the lender. The Dow Jones Industrial Average gained 51 points, or 0.2%, to 34,148:

U.S. stock indexes opened mixed after JPMorgan Chase & Co said Monday it has won the auction to take over fallen First Republic Bank after regulators seized the San Francisco-based lender, resulting in the third failure of an American bank in two months. The Dow Jones Industrial Average gained 51 points, or 0.

2%, to 34,148. The S&P 500 was down 0.1%, while the Nasdaq Composite declined by 0.2%. JPMorgan Chase has won the auction to take over fallen First Republic Bank and acquired all of the troubled lender's deposits and"substantially all the assets," according to a release on Monday morning. JPMorgan's shares opened...

 

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