Shares of First Republic Bank plummeted after first-quarter earnings showed massive deposit losses. Those declines accelerated to more than 40% Tuesday afternoon.
First Republic's first-quarter earnings showed
, sending the stock plummeting. Those declines accelerated to more than 44% Tuesday afternoon, after Bloomberg reported the company is weighing an asset sale of up to $100 billion.More than 700,000 contracts tied to the stock had traded with several hours remaining before the close, already the second-highest daily sum on record.
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