The Dow and S&P 500 closed lower on Wednesday, as troubles at Credit Suisse renewed fears of a banking crisis, eclipsing bets on a smaller U.S. rate hike
Benchmark indexes regained some ground in late trade after Bloomberg reported the Swiss government was holding talks on options to stabilize the country's banking giant. The Nasdaq composite closed with slight gains.
"We are seeing movement on the headlines but not severe headlines which is good. ... I don’t think we are at 2008-2009 stages by any means when it comes to the contagion stuff," said Themis Trading co-manager of trading, Joe Saluzzi. Still, Credit Suisse troubles piled more pressure on the banking sector after U.S. authorities relieved investors with emergency measures to prevent contagion after the collapse of SVB Financial
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