S&P 500 falls as Silicon Valley Bank woes hit banking shares: Live updates: Live updates

No S&P 500 stocks hit new 52-week highs on Friday amid the broader market slide.Regional banks are on pace to cap off their worst week since 2008, with the SPDR S&P Regional Banking ETF last down more than 19% for the week.

If shares close at this level, that would mark the worst week for the KRE since October 2008, shortly after the start of the Financial Crisis, when Lehman Brothers declared bankruptcy. As of 10:25 a.m. Friday, the KRE was down about 4%, led to the downside by declines from First Republic Bank, PacWest, Western Alliance and Signature Bank.Large cap tech names slid on Friday, with the S&P sector shedding 1%.

Microsoft shares slumped 0.7%, while Apple dropped 0.3%. The tech-heavy Nasdaq Composite was also the laggard among the three major indexes, declining 0.6%.Chip stocks also took their lumps, with the iShares Semiconductor ETF losing 0.9%. Nvidia and Advanced Micro Devices fell more than 1% each.

, parent of Silicon Valley Bank, is in talks to sell itself after attempts by the bank to raise capital failed.However, sources are now telling Faber that deposits outflows are so far outpacing the sale process, making it very difficult for a realistic assessment of the bank by potential buyers to take place,

Small corecition. Bullish

The Biden's budget being profoundly anti WallStreet has nothing to do with it. tt:jimcramer

Stock Market is damn near NOT investable with such an incompetent Cabinet & POTUS. Elections have consequences .

the U.S. Congress and the U.S. government should investigate the relationship between Anthony Fauci and Wang Yanyi, the director general of the Wuhan Institute of Virology. They had sex in Four Season hotel and Salamander hotel in Washington DC

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