Financial stocks continued to drag stock stock market down Friday, as the Dow Jones Industrial Average’s DJIA, -1.19% four financial components contributed about 40% of the index’s selloff. Shares of JPMorgan Chase & Co. JPM, -3.78% gave up 3.7%, insurer Travelers Companies Inc. TRV, -4.17% dropped 3.6%, American Express Co. AXP, -2.62% fell 3.2% and Goldman Sachs Group Inc. GS, -3.67% slid 3.0%. The combined price declines of those stocks reduced the Dow’s price by 170 points, while the Dow fell 439 points, or 1.4%. SVB Financial Group’s SIVB, -60.41% bankruptcy filing on Friday showed that the $30 billion infusion into First Republic Bank FRC, -32.80% didn’t mean the crisis in investor confidence was over.
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