Bank stocks experience mixed results as First Republic faces challenges.
TL;DR
Bank stocks rose on Monday, with gains from Ally Financial, U.S. Bancorp, Fifth Third Bancorp, and Lincoln National. NY Community Bancorp surged nearly 32% after agreeing to buy deposits and some loans from shuttered Signature Bank. First Republic Bank plunged 47% to reach an all-time low, dragged down by another S&P downgrade. Canopy Growth was among a group of marijuana-related stocks that slipped to new 52-week lows.
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