Dow Jones Futures Fall: JPMorgan Buys Failed First Republic Bank; FRC Stock Plunges 45%

News Snapshot:

Dow Jones futures sagged modestly Monday morning, as markets reacted to the third U.S. bank failure of the year. JPMorgan Chase (JPM) agreed to acquire the bulk of First Republic Bank (FRC), marking the second-largest bank failure in U.S. history. FRC stock plunged 45% in premarket trade. X Early Monday, Federal regulators seized First Republic and quickly struck a deal to sell the bulk of its operations to JPMorgan. JPMorgan said it will take over all of First Republic's $92 billion in deposits. It is also buying most of the bank's assets, including about $173 billion in loans and $30...