April 16, 2024
Dow ends down 220 points as First Republic worries overshadow upbeat Big Tech earnings

Dow ends down 220 points as First Republic worries overshadow upbeat Big Tech earnings

U.S. stocks ended mostly lower on Wednesday as robust earnings from big tech companies boosted the Nasdaq Composite, but concerns about First Republic Bank weighed on the broader market after the San Francisco-based lender revealed an exodus of deposits in March in the aftermath of Silicon Valley Bank collapse.

How stocks traded

On Tuesday, the Dow Jones Industrial Average fell 345 points, or 1.02%, to 33,531, the S&P 500 declined 65 points, or 1.58%, to 4,072, and the Nasdaq Composite dropped 238 points, or 1.98%,…

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