(SNews) – The banking crisis deepened on Monday morning as several banks plunged in pre-market trading, causing customers to begin lining up to withdraw their funds.

The news comes after the implosion of Silicon Valley Bank (SVB) on Friday, marking the second-largest U.S. bank collapse in history.

On Sunday evening, regulators also shut down New York’s Signature Bank, striking more fears into the banking world.

The knock-on effects now appear to be hitting other banks hard.

You Might Like

Before Monday’s open, First Republic Bank was down a whopping 66% this morning.

The Western Alliance Bancorporation is also down 62%.

On Sunday First Republic Bank announced a strengthening and diversification of their liquidity position.

Then the bank plunged 66% overnight.

Latest articles

Related articles