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A First Citizens Bank sign is seen in Durham, North Carolina, on Monday March 27, 2023. North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month. (AP Photo/Jonathan Drew)

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Deal to buy Silicon Valley Bank calms bank fears, for now
By STAN CHOE - AP Business Writer
Mon,03/27/23-1:27AM , 136 Reads
NEW YORK (AP) — First Citizens Bank is buying much of Silicon Valley Bank, the tech-focused financial institution whose failure this month set off a chain reaction that helped rattle faith in banks around the world.
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President Biden is urging confidence in the nation's financial systems, following the stunning collapse of two banks. AP Washington correspondent Sagar Meghani reports.

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Stocks fall to cap chaotic week driven by fears about banks
By STAN CHOE - AP Business Writer
Fri,03/17/23-1:38AM , 84 Reads
NEW YORK (AP) — Stocks fell Friday to end a whipsaw week on Wall Street amid rising fear among investors that turmoil in the banking industry could drag the economy into a recession.
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People walk by the Dah Sing Bank's electronic screen in Hong Kong on Friday, March 10, 2023. Asian stock markets followed Wall Street lower Friday ahead of an update on U.S. employment amid worries about possible further interest rate hikes. (AP Photo/Louise Delmotte)

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Stocks tumble as Wall Street wonders what will break next
By STAN CHOE - AP Business Writer
Fri,03/10/23-12:39AM , 118 Reads
NEW YORK (AP) — 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.
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A person wearing a protective mask walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Friday, March 3, 2023, in Tokyo. Asian stock markets followed Wall Street higher Friday after a Federal Reserve official raised hopes the U.S. central bank might not step up its anti-inflation fight as much as feared. (AP Photo/Eugene Hoshiko)

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Stocks jump as Wall Street cruises to best day since January
By STAN CHOE - AP Business Writer
Thu,03/02/23-11:43PM , 126 Reads
NEW YORK (AP) — Stocks rallied Friday to send Wall Street to its best day in six weeks.

The S&P 500 rose 1.6% to cap its first winning week in the last four as relaxing yields in the bond market took some pressure off Wall Street. It’s found some stability following a swift rise and fall to start the year.
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