Dow, S&P 500 book 4-day losing streak as bank shares weigh


U.S. stocks closed lower for a fourth session in a row on Thursday as pressure on shares of banking stocks continued to weigh on equities. The Dow Jones Industrial Average DJIA, -0.86% fell about 286 points, or 0.9%, ending near 33,127, according to preliminary FactSet figures. The S&P 500 index SPX, -0.72% fell 0.7% and the Nasdaq Composite Index COMP, -0.49% slumped 0.5%. That marked the S&P 500’s longest losing streak since since Feb. 22, according to Dow Jones Market Data, and the longest losing stretch since Dec. 19 for the Nasdaq. Pressure in the U.S. banking sector has been a key focus for investors, with shares of the SPDR S&P Regional Banking ETF KRE, -5.45% down about 38% on the year so far. Despite stress at banks from rate shocks and lost deposits, the Federal Reserve on Wednesday raised rates by another 25 basis points to a 5%-5.25% range, the highest level since 2007.

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