Wall Street swings as questions about banks, rates linger

Friday, March 24, 2023, Vol. 47, No. 13

NEW YORK (AP) — Stocks closed mostly higher after a wobbly day of trading as worries continued to rise about the banking industry.

The S&P 500 rose 0.3% Thursday after veering all the way from a 1.8% gain earlier in the day to a 0.4% loss.

The Dow Jones Industrial Average posted a slight gain of 0.2%, whlie strength for tech and high-growth stocks helped the Nasdaq composite do better than the rest of the market.

Treasury yields sank sharply again as traders continue to bet the Federal Reserve will have to cut rates later this year.