How major US stock indexes fared Friday 3/17/2023

Wall Street’s week of turmoil closed with drops for stocks. The S&P 500 fell 1.1% Friday, led by drops in First Republic and other banks. The Dow Jones Industrial Average and Nasdaq composite also pulled back. This week has been a whipsaw for global markets as concerns worsen about banks following the second- and third-largest U.S. bank failures in history. The fear is that the trouble for banks caused by fast-rising interest rates could drag the economy into a recession. Treasury yields sank again Friday in part on such fears, along with easing inflation expectations and falling confidence among U.S. households.