First Republic Bank and other regional lenders Tuesday clawed back from their worst selloff in three years, a sign that regulators’ emergency measures to contain a banking crisis are calming investors.
The sharpest rebounds were seen among regional banks that suffered the worst declines in recent days. First Republic shares,
which crashed on Monday, rose more than 30% Tuesday. PacWest Bancorp jumped 36%, and Western Alliance was up 14%. All three stocks had risen more in earlier trading, but pared some of their gains.