Stocks Settle Sharply Lower as Bank Stocks Plunge

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What you need to know… The S&P 500 Index ($SPX) (SPY) Thursday closed down -1.85%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.66%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.802%. Stock indexes Thursday relinquished early gains and sold off sharply, with the S&P 500 falling to a 1-1/2 month low and the Dow Jones Industrials tumbling to a 4-month low. Concerns about the U.S. banking sector weighed on bank stocks Thursday after Silvergate Capital plunged more than -42% after the company said it plans to wind down operations and liquidate its bank. Also, SVB Financial…

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