Swiss Banks Struggle for Survival Amidst Global Market Turmoil

First Republic Bank's credit rating was cut by Standard & Poor's, causing a 47.11% drop in its stock. JPMorgan Chase is advising the bank on strategic alternatives to stem the rout. Meanwhile, U.S. markets staged a relief rally, and Asia-Pacific markets rose on Tuesday. However, there are signs of increasing market instability, with regional banks reducing their loans and the Fed facing a difficult decision on interest rates. JPMorgan Chase's chief market strategist warned of a possible "Minsky moment," a sudden market collapse after a long period of aggressive speculation.