Stock market Today

The failure of Silicon Valley Bank comes as investors have been flipping between worrying about the economy and seeing an end to the recent market turmoil.

“What is happening to the banking sector is indicative of what investors fear could happen to other parts of the economy if interest rates continue to go up.” The yield on the two-year bond ended the week at 4.58 percent. The yield on the two-year U.S. Ron Temple, chief market strategist at Lazard, said that beneath the headline numbers were signs that wages continued to rise for portions of the labor force and that robust hiring remained a cause for concern. Higher interest rates weigh on stock prices, and raise the risk the Fed’s actions may tip the economy into a recession. Investors homed in on slower wage growth and an increase in unemployment, in part because more people are coming back to the labor force, two data points that suggest the Fed’s effort to slow the economy and rein in inflation may be working. The yield rose above 5 percent on Tuesday for the first time since mid-2007 after Mr. Powell, told lawmakers on Tuesday that the central bank might have to raise interest rates more than it expected, and possibly Banks can be especially vulnerable to rising rates, which can cause the value of their investment assets to fall, as was the case with SVB. The largest Wall Street banks held up better on Friday, with the concern focused on a handful of smaller institutions. The decision to close the bank followed whipsaw trading on Thursday that continued into Friday, after SVB said it needed to take immediate steps to shore up its finances amid a darkening environment for start-ups and other tech companies. The collapse of Silicon Valley Bank added to worries about the economy.

The stock market clawed back from session lows. Bank stocks fell hard after SVB Financial bank gets shut down by regulators.

The Financial Select Sector SPDR ETF ( [XLF](https://research.investors.com/quote.aspx?symbol=XLF)) held up better, down 1.8%. [GPS](https://research.investors.com/quote.aspx?symbol=GPS)) gapped down 6.1% after reporting worse-than-expected Q4 results, including a loss for its January-ended quarter. [KRE](https://research.investors.com/quote.aspx?symbol=KRE)) down 4.4%, on top of Thursday's 8.1% decline. The Innovator IBD 50 ETF ( [FFTY](https://research.investors.com/quote.aspx?symbol=FFTY)) fell 3.2%. The break could be interpreted as a sell signal, although the stock is technically forming a base. [Labor Department's February](https://www.investors.com/news/economy/jobs-report-soft-wage-growth-offsets-strong-hiring-sp-500-futures-rise/) nonfarm payrolls grew 311,000 vs. [SCHW](https://research.investors.com/quote.aspx?symbol=SCHW)) dropping 11.7%. The solar storage and battery company is an SVB Financial loan customer. The California Department of Financial Protection and Innovation closed the bank Friday. The unemployment rate crept up to 3.6% vs. the 213,000 expected. The S&P 500 fell 1.5%.

U.S. stocks seesawed Friday after the crucial jobs report came in warmer than expected and jitters over troubles at Silicon Valley Bank (SIVB) continued to ...

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It also noted that Silicon Valley Bank was one of six banking partners used for managing a portion of reserves held in cash. An undisclosed portion of USD Coin’s cash reserves were held at the Silicon Valley Bank as of January, according to a company reserve attestation report. The second-largest dollar-pegged cryptocurrency slipped below $1 over concerns that part of the reserves backing it could be tied up in the collapsed Silicon Valley Bank.\n\nCircle Internet Financial Ltd.’s stablecoin, USD Coin, traded under 98 cents Friday, according to data from CoinDesk.

SVB Financial (SIVB), holding company for Silicon Valley Bank, crashed another 66% early Friday morning on growing fears of a bank run before the stock was ...

[AXP](https://research.investors.com/quote.aspx?symbol=AXP)) [PANW](https://research.investors.com/quote.aspx?symbol=PANW)) [JPM](https://research.investors.com/quote.aspx?symbol=JPM)) [CRM](https://research.investors.com/quote.aspx?symbol=CRM)) [Recent IBD Stock Of The Day](https://www.investors.com/research/ibd-stock-of-the-day/newr-stock-new-relic-boosts-data-analysis/), New Relic, is working on a flat base with a 80.98 buy point in the aftermath of the Feb. [strong fourth-quarter results](https://www.investors.com/news/technology/crm-stock-salesforce-earnings-salesforce-stock-q42022/). [IBD Leaderboard](https://leaderboard.investors.com/#/leaders/leadersnearabuypoint) watch list stock Palo Alto Networks continues to trade quietly in the handle after the stock's 12.5% surge on Feb. [Five Dow Jones Stocks To Buy And Watch Now](https://www.investors.com/research/dow-jones-stocks/) [4 Top Growth Stocks To Buy And Watch In The Stock Market Rally](https://www.investors.com/stock-lists/stocks-near-a-buy-zone/dow-jones-leader-salesforce-3-other-top-stocks-to-buy-and-watch/) [buy point](https://www.investors.com/how-to-invest/investors-corner/apple-stock-set-up-proper-buy-point-before-big-rally/) in a giant cup with handle amid a four-day losing streak, according to [IBD MarketSmith](https://www.investors.com/product/marketsmith/?artProdLink=MarketSmith) chart analysis. [JPM stock](https://research.investors.com/stock-checkup/nyse-jpmorgan-chase-jpm.aspx) shows a 92 out of a perfect 99 [IBD Composite Rating](https://www.investors.com/how-to-invest/investors-corner/stocks-to-buy-and-watch-ibd-composite-rating-top-growth-stocks/), per the [IBD Stock Checkup.](https://research.investors.com/stock-checkup/) The Composite Rating is designed to help investors easily find top growth stocks. [mixed Q4 results](https://www.investors.com/news/technology/orcl-stock-oracle-earnings-edge-above-estimates/). New Relic was recently an [IBD Stock Of The Day](https://www.investors.com/research/ibd-stock-of-the-day/newr-stock-new-relic-boosts-data-analysis/). [TSLA](https://research.investors.com/quote.aspx?symbol=TSLA)) traded down 0.5% Friday morning. [A pivotal jobs report from the Labor Department](https://www.investors.com/news/economy/why-a-soft-jobs-report-wont-save-the-sp-500-from-fed-hawks/) showed that the U.S.

Last updated: 1:54PM EST Today's stock market selloff is picking up steam as we approach the final couple hours of this week's trading. As of 1:54 ...