U.S. stock indexes opened lower on Friday, giving back some of Thursday’s gains as investors still assessed the health of the banking sector after First Republic Bank was rescued by a group of major U.S. lenders. The Dow Jones Industrial Average DJIA, -1.19% lost 138 points, or 0.4%, to 32,130. The S&P 500 SPX, -1.10% was off 0.2%, while the Nasdaq Composite COMP, -0.74% declined by 0.1%. On Thursday, a group of America’s largest banks including JPMorgan, Citigroup, Bank of America and Wells Fargo agreed to plunk $30 billion of uninsured deposits into First Republic Bank. Shares of First Republic opened 17% lower on Friday after the bank suspended its dividend and disclosed higher borrowing costs eating into its valuation Thursday after hours.
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