Stocks fell Friday as investors pulled back from positions in First Republic and other bank shares amid lingering concerns over the state of the U.S. banking sector.
, or nearly $54 billion, from the Swiss National Bank. The stock lost 24% over the course of the week.
Despite the down session, the S&P 500 advanced 1.43% this week. The Nasdaq Composite gained 4.41% as investors bet on technology and other growth names ahead of next week’s Federal Reserve policy meeting. It was the best week since Jan. 13 for the tech-heavy index. But Friday’s slide pulled the Dow into negative territory for the week, finishing 0.15% down.
Bank stocks have been closely followed by investors in recent days amid fears that others could face the same fate as
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