from Standard & Poor's, which had already lowered the bank's credit status to junk. After the failures of Silicon Valley Bank and Signature Bank, investors are focusing on First Republic as the main representative of large regional banks in the U.S. First Republic's stock had already fallen about 80% this month heading into Monday trading.
Chinese President Xi Jinping landed in Russia on Monday for meetings with his Russian counterpart, Vladimir Putin. Xi's three-day visit to Moscow is a show of unity between the two nations at a tense time for geopolitics. Russia's invasion of Ukraine is now it in its secord year, as the U.S. and other Western nations fund and support the Ukrainian defense. China and the U.S.
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