U.S. bank stocks fell into the red on Thursday as the fate of First Republic Bank weighed on the sector and a bailout of Credit Suisse provided no lift, with investors pondering the health of the financial system.
Efforts to reassure investors are being brushed aside, even as U.S. Treasury Secretary Janet Yellen plans to tell senators today that the U.S. banking system is on solid footing and that Americans can be confident about their deposits, according to prepared testimony for her appearance before the Senate Finance Committee….
