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First Republic leads bank stocks' comeback after SVB-fueled selloff

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First Republic leads a comeback for bank stocks that cratered in the SVB-fueled selloff

The three bank stocks are rebounding from a rout Monday, when they were dragged down by fears about the fallout from SVB's collapse. First Republic plunged to close 62% lower in the session, while PacWest shed 21%, and Western Alliance lost 47%.

"Once we move away from initial shock rather than painting everyone with the same brush, there is a tendency to scrutinize the models a bit more, the banks' deposit bases and access to liquidity," Wells Fargo Investment Institute strategist Gary Schlossberg said, per"There has been no foot-dragging by the government, we could even see more steps down the road to stabilize the system," he added.

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First Republic drops 60%, leads decline in bank stocks despite government's backstop of SVBFirst Republic Bank led a decline in bank shares Monday that came even after regulators extraordinary actions Sunday evening. It’s amazing the amount of people you bring on to cheerlead the government’s bailout. selfserving in fact, it's a privilege to reverse it. Somebody wake Biden up! Tell him he's President
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