Monday, March 13, 2023

Stocks end mixed after wild session for banks

  • Stocks end mixed after wild session for banks

    U.S. stocks bounced sharply between losses and gains before ending the session mixed with the Nasdaq Composite closing higher, as the Dow and S&P 500 trailed. Investors attempted to gauge whether there will be contagion to other banks following the collapse of Silicon Valley Bank Friday, followed by government intervention on Sunday. Within the sector, S&P 500 financials lost 4%, while mid-sized-regional banks lost nearly 12% as tracked by the KBW Nasdaq Bank Index.

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