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First Republic Bank plunges 49% on Wall Street after massive withdrawal of deposits

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First Republic Bank plunges 49% on Wall Street after massive withdrawal of deposits

U.S. bank First Republic slumped on Wall Street on Tuesday as investors worried about the company's future as customers withdrew more than $100 billion in deposits in the first quarter.

The action ended Tuesday down 49% on the New York Stock Exchange after being suspended several times during the session, in the wake of the publication of its financial results Monday evening.

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