Why Shares of First Republic, Truist, and US Bancorp Got Creamed in March

Shares of many regional banks sold off heavily in March after the collapse of three U.S. banks in less than a week's time sent a jolt through the industry and left investors quite uncertain about the future. Between Feb. 28 and March 31, shares of First Republic (NYSE: FRC) fell an astounding more than 88%, according to data from S&P Global Market Intelligence. Meanwhile, shares of the fifth-largest bank in the country by assets, US Bancorp (NYSE: USB), fell close to 25%, while shares of the seventh-largest bank in the U.S., Truist Financial (NYSE: TFC), fell by more than 27%.