(Reuters) – The New York Stock Exchange ended lower on Friday as fears over the health of the U.S. banking sector overshadowed the U.S. jobs report.
The Dow Jones index fell 1.07%, or 345.22 points, to 31,909.64 points.
The broader S&P-500 lost 56.73 points, or 1.45%, to 3,861.59 points.
The Nasdaq Composite fell for its part by 199.47 points (-1.76%) to 11,138.89 points.
California banking authorities closed SVB Financial Group on Friday, a decision taken to protect the American bank’s customers.
The sudden collapse of SVB follows the announcement of a major capital increase intended to make up for a loss of 1.8 billion dollars, following the sale of a bond portfolio, formed with the rise in rates.
“There are concerns that the financial system is vulnerable to aggressive rate hikes from the Federal Reserve,” said Carol Schleif, deputy chief investment officer at BMO in Minneapolis, Minnesota.
Data released by the Labor Department showed the US economy added more jobs than expected in February and although wage growth showed signs of moderating.
The report eased investor concerns about a 50 basis point rate hike by the Fed at its March meeting.
In values, Gapa fell after posting a larger-than-expected loss in the fourth quarter.
Oracle also fell after the software company missed market forecasts on its quarterly revenue.
* The reminder of the session in Europe: [.EUFR]
* TO BE FOLLOWED ON MONDAY:
(Report Sinéad Carew, Saqib Iqbal Ahmed, Amruta Khandekar and Shristi Achar; French version Camille Raynaud)
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