Trading of First Republic Bank shares were halted multiple times today, as investors sold off shares, alarmed by financial disclosures from the bank.

Some say the decision to guarantee deposits beyond the typical $250,000 limit was necessary to keep the financial system stable. Others argue this sets a bad precedent if other banks run into trouble.

The declines come despite emergency measures by regulators to protect depositors at Silicon Valley Bank and Signature Bank and President Biden's remarks to reassure Americans.