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A security guard next to a road block near the New York Stock exchange in the Financial District on Jan. 14, 2022. (Mary Altaffer/AP Photo) NEW YORK—Fear rattled Wall Street, and stocks tumbled Friday on worries about what’s next to break under the weight of rising interest rates following the biggest U.S. bank failure in nearly 15 years.
The S&P 500 dropped 1.4 percent to cap its worst week since September. That’s despite a highly anticipated report on Friday showing pay raises for workers are slowing and other signals Wall Street wants to see of cooling pressure on inflation.
The Dow Jones Industrial Average fell 345 points, or 1.1 percent, while the Nasdaq composite sank 1.8 percent.
Some of the market’s sharpest drops again came from the financial industry, where stocks tanked for a second day.Regulators took over Silicon Valley Bank in a surprise midday move after shares of its parent company, […]
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