A trader works at the post where First Republic Bank is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 13, 2023. Brendan Mcdermid | ReutersShares of First Republic Bank, which have become the barometer of the regional bank crisis, slid once again Monday after Standard & Poor’s cut the credit rating of the San Francisco-based institution, but shares of rival banks were moving higher.S&P reduced its credit rating for First Republic to B+ from BB+ on Sunday after first lowering it to junk status just last week. The rating remains on CreditWatch Negative, said S&P.related investing newsThe stock fell 46% on Monday, adding to a decline of more than 80% already this month that came as the collapse of Silicon Valley Bank caused investors to rethink other banks with large uninsured deposit bases.Stock Chart IconStock chart icon First Republic Bank, 1-dayThe stock took another leg lower after the Wall Street Journal reported that JPMorgan CEO Jamie Dimon was leading efforts for more potential help for First Republic. That help could come in the form of other banks investing in First Republic, the report said. Shares of First Republic were halted multiple …
