Wall Street worries about the U.S. Banking System grew even more as stocks closed lower.
Thursday, the S&P 500 fell 0.7%. The Dow Jones Industrial Average dropped 286 points, and now is down for the entire year. The Nasdaq closed at a lower level. Investors were looking for the next weak point after several large U.S. banks failed since March. Smaller and mid-sized bank shares also dropped sharply.
Several companies reported higher profits than expected, which helped limit the losses on the market. The European Central Bank raised its benchmark rate and hinted at more rate increases.
The S&P500 fell by 29.53 points or 0.7% to 4,061.22.
The Dow Jones Industrial Average dropped 286.50 points or 0.9% to 33127.74.
The Nasdaq Composite fell 58.93 or 0.5%, to 11,966.40.
Russell 2000, an index of smaller firms, fell by 20.47 points or 1.2% to 1,718.81.
This week's theme:
The S&P500 is down 108.26 or 2.6%.
The Dow Jones is down 970.42, or 2.8%.
The Nasdaq has dropped 260.19 or 2.1%.
Russell 2000 down by 50.18 points or 2.8%
The S&P500 is up 221.72 or 5.8%.
Dow Jones is down 19,51 points or 0.1%.
The Nasdaq has gained 1,499.92 or 14.3%.
The Russell 2000 has fallen 42.43 points or 2.4%.