Exchange-traded funds that buy bank stocks were slumping Tuesday in the wake of First Republic Bank’s failure, with the SPDR S&P Regional Banking ETF on track for its worst performance since the banking-sector turmoil began in mid-March.
The SPDR S&P Regional Banking ETF KRE was down 6.8% around midday Tuesday, on pace for its biggest drop since plunging 12.3% on March 13, the day after the U.S. government intervened to shore up confidence in the banking sector after Silicon Valley Bank and Signature Bank each collapsed, according…
