On Tuesday, US equities fell the most in a month, owing to mixed profits and a new set of concerns about the banking industry following First Republic's disclosure of a significant reduction in first-quarter deposits. After reporting $104.47 billion in deposits, down 40.8% from December 31, 2022, First Republic Bank shares fell 49% to an all-time low. The bank is considering a larger rescue plan that would include selling $100 billion in assets. Customers seeking income shifted money from conventional deposit accounts at smaller banks to accounts at larger banks and into money market funds in March, causing banking businesses to experience significant volatility. Other banking competitors, such as Western Alliance Bancorp and PacWest, fell 5% and 8%, respectively. The price volatility comes amid ongoing concerns about the banking sector's soundness following the failures of Silicon Valley Bank and Signature Bank last month.