Banking Turmoil: First Republic's $30B Rescue, SVB Bankruptcy, White House Reaction 3/17/23

<p>David Faber, Sara Eisen and Mike Santoli focused on the turmoil engulfing the banking sector: Shares of First Republic </p><p>and other regional banks extended their losses, despite news that the troubled lender is receiving $30 billion in deposits </p><p>from eleven U.S. banks. The parent of Silicon Valley Bank filed for Chapter 11 bankruptcy protection. U.S. Deputy Treasury </p><p>Secretary Wally Adeyemo joined the program with White House reaction to those developments-- and how it</p><p>plans to quell fears about the stability and safety of the banking system. Also in focus: The worst week for Credit Suisse shares </p><p>since the 2008financial crisis despite a lifeline from the Swiss National Bank, FedEx shares jump on earnings and guidance,</p><p>tech as a safe haven with the FANG+ index on track for its best week in a year, UBS’ Art Cashin on banks and the markets.</p>