SPDR Regional Banking ETF KRE jumps 9% at the open

SPDR Regional Banking ETF KRE is up 9.1% in early trading at $48.50 following the statement by President Biden last night that "Americans can have confidence that the banking system is safe". Some of yesterday’s biggest decliners and components of the fund are also up sharply as investors regain confidence in the sector. PacWest Bancorp (PACW) is up 56%, First Republic Bank (FRC) is up 48%, KeyCorp (KEY) is up 16%, Zions Bancorporation (ZION) is up 15%, and Comerica Incorporated (CMA) is up 10% in early trading.