Wall Street’s 30-stock benchmark turned in a small weekly loss, while its two peers added gains.
The Dow Jones Industrial Average is treading volatile waters as the risk of further bank failures weighed on real-economy stocks. The banking sector was the biggest loser, especially on Friday, when efforts from major investment players to rescue First Republic Bank flopped.
Money managers are anxious about more banks facing the same harsh reality check and the threat of a wide-spread instability across the financial system has disrupted a promising rebound so far this year. That fear has spread across the Atlantic, hitting hard on Credit Suisse.
Amid the sea of red in the Dow, there was a glimmer of hope last week with the S&P 500 and the Nasdaq Composite eking out satisfactory gains. The 500-stock average added 1.4% over the week, while the tech-heavy benchmark advanced a total of 4.4% for the same period.
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