US bank stocks continue to plummet

US bank stocks continue to plummet

First Republic Bank has led the sell-off, with its share price nosediving more than 60%

Stocks of US regional lenders continued to slide on Monday, as First Republic Bank recorded a massive drop of 61.8%, forcing a brief halt in trading due to volatility. The San Francisco-based lender extended last week’s loss of 33%.

The country’s banking sector has been buffeted by a series of collapses that began last week. PacWest Bancorp slid 45%, while Western Alliance Bancorp lost more than 47%. Zions Bancorporation declined by about 26%, while KeyCorp shed some 27%.

Major financial institutions were also under pressure, with…