NEW YORK, March 27 — Wall Street stocks advanced early today as news of US bank First Citizens' acquisition of fallen lender Silicon Valley Bank boosted shares in the financial sector.
The banking sector has been under scrutiny in the wake of the Federal Deposit Insurance Corporation's move on March 10 to take control of SVB, which suffered a crushing run on deposits. Shares of large banks like Bank of America advanced, along with regional lenders such as KeyCorp and First Republic Bank.
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