The Dow fell 384 points on Black Friday.

(Reuters)

[Instant News/Comprehensive Report] Last week, Silicon Valley Bank (SVB) and Signature Bank collapsed, and SVB Financial Group, the parent company of Silicon Valley Bank, announced on Friday (17th) to file for bankruptcy protection. This storm caused investors to worry about the global banking system. , The banking crisis and the possible economic recession are clouded, and the U.S. stock market encountered Black Friday. It is down nearly 72% for the week.

According to comprehensive foreign media reports, 11 large banks including JP Morgan Chase and Citibank announced on Thursday that they would jointly rescue First Republic Bank and jointly inject $30 billion to prevent the spread of market panic. The stock price of First Republic Bank rose nearly 10% that day. , also stimulates US stocks.

But good times don’t last long. As investors withdrew First Republic’s assets, the U.S. banking industry lingered. On Friday, the U.S. stock market sold off again, and First Republic’s stock price plummeted 32.8%.

In addition, due to the outbreak of financial crisis, Credit Suisse Group's stocks traded in the United States also closed sharply lower, down 6.9%, and the stock price fell 24% within a week.

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The Dow Jones Industrial Average fell 384.57 points, or 1.19%, to close at 31861.98 points.

The Nasdaq fell 86.76 points, or 0.74%, to close at 11,630.51.

The S&P 500 fell 43.64 points, or 1.10%, to close at 3916.64.

The Philadelphia Semiconductor Index fell 14.55 points, or 0.47%, to close at 3083.52 points.

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