Why First Republic Bank Stock Is Falling

First Republic Bank FRC shares are trading lower by 5.48% to $13.79 Tuesday afternoon. Shares of several banks and financial services companies are trading lower amid U.S. economic concerns after job openings came in below estimates and factory orders declined by more than expected.

What's Going On?

Markets swung on Tuesday after further data indications signaled an impending slowdown in economic activity. 

Job postings decreased more than expected in February, showing the first signs of labor market softening, while declining factory orders reinforced the lackluster ISM Manufacturing PMI print on Monday...Read More

According to data from Benzinga Pro, FRC has a 52-week high of $171.09 and a 52-week low of $11.52.