U.S. Stocks Add to Volatility as Traders Weigh First Republic Lifeline
Adding to this week’s volatility, the Dow Jones Industrial Average declined by 0.4% Friday as traders assess the situation surrounding First Republic Bank.
The nation’s largest banks, including Bank of America and JPMorgan Chase, have granted a $30 billion deposit in First Republic to strengthen confidence in the banking sector.
The S&P 500 was last 0.3% lower. The tech-heavy Nasdaq-100 was flat to slightly firmer and has advanced by over 5% so far on the week, its best performance in several months.
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