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March 14, 2023
NEW YORK — Bank stocks tumbled Monday on worries about what's next to break, following the second- and third-largest bank failures in U.S. history. But many other stocks rose on hopes the bloodletting will force the Federal Reserve to take it easier on the hikes to interest rates that are shaking Wall Street and the economy.
The S&P 500 dipped 0.2% after whipsaw trading, where it careened between an early loss of 1.4% and a midday gain of nearly that much. The Dow Jones Industrial Average fell 90 points, or 0.3%, while the Nasdaq composite rose 0.4%.
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