Stock Indexes Remain Steady Amid Banking Unrest

Stock indexes have remained steady over the past week despite the collapse of Silicon Valley Bank, Signature Bank’s absorption by New York Community Bancorp, and the disruption at First Republic Bank ($FRC@US). The S&P 500 increased 1.4 percent last week and rose another 0.9 percent on Monday. The Dow Jones Industrial Average is down 1.7 percent, and the Nasdaq is up by 0.9 percent. The broad index has decreased since March 8th, when Silicon Valley Bank’s troubles began. The S&P 500’s materials sector, which is reactive to changes in the economy, fell 3.5 percent last week, while financials fell 6 percent and energy fell 7 percent. Investors shifted to sectors that are more resilient to an economic downturn, such as information technology, which rose by 5.7 percent, and utilities, which gained 3.9 percent.