CONTAGION:

Shares of First Republic, a San Francisco-based bank, sank more than 16.5%

Zion Bancorp dropped more than 12%

SPDR S&P regional banking ETF slid 8% after hitting its lowest point since January 2021.

Major U.S. banks were also hit, with Wells Fargo down 6%

JPMorgan Chase & Co down 5.4%,

Bank of America Corp 6% lower

Citigroup Inc 4% lower