Market Snapshot
Federal Reserve is expected to deliver a quarter-point rate hike on Wednesday
The FDIC’s deposit-insurance fund will likely take a $13 billion hit as JPMorgan Chase snaps up First Republic Bank.
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U.S. stocks closed lower on Monday, giving up modest early gains, after it was announced that JPMorgan Chase & Co. would purchase much of failed First Republic Bank.
Some analysts left open the possibility of further turmoil in the regional banking sector, as investors turned their focus to this week’s Federal Reserve policy meeting.
What happened
Stocks…
