JPMorgan acquires First Republic, DeSantis-Disney feud escalates, Lordstown Motors' warning

Yahoo Finance Live's Seana Smith breaks down the three top stories from the market day on Monday.

Video transcript

SEANA SMITH: Well, it is closing time here at Yahoo Finance. Here are some of the biggest stories of the day. First up, JPMorgan buying most of First Republic's assets under the-- after the bank was seized by regulators, making First Republic the second largest bank failure in US history. JPMorgan CEO Jamie Dimon saying that the purchase will help stabilize the banking system, adding, quote, "This part of the crisis is over."

And another escalation in the ongoing battle between Disney and Florida Governor Ron DeSantis. The board appointed by DeSantis to oversee Walt Disney World's operations has voted to sue the media giant. This is the board's response to Disney suing it, which accused the board and DeSantis of punishing the company for exercising its First Amendment rights.

And finally, Lordstown Motors warning that it may have to file for bankruptcy if an investment deal with Foxconn falls through. Now, in a filing, the EV maker saying that Foxconn accused the company of being in breach of an investment agreement due to a delisting notice from the NASDAQ. As a result, Foxconn is threatening to back out of the deal if Lordstown does not fix the issue. Lordstown shares ending the day down just about 23%. That'll do it for us today on "Yahoo Finance Live." Be sure to come back tomorrow at 3:00 PM Eastern time. We'll see you then.