Shares drop by 75%, trading halted on dozens of banks after Biden declares 'US banking is safe'

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There was a trading halt on dozens of regional banks this morning as shares dropped by up to 75 percent, even after President Joe Biden claimed that “US banking is safe.”

A cluster of US banks also experienced a nosedive, with Bank of America dropping 7.4 percent, Citigroup falling 5.8 percent, Fargo nosediving by 7.5 percent, and JP Morgan taking a hit by 2.7 percent, according to the Daily Mail.

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