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On Friday Dow Jones again declined more than 1% to close at 31,909 down 345 points. This week ^DJI lost 4.6% (1547 points). worst week since June. Silicon Valley Bank collapse intensifies sell off. 

SVB collapse is a major U.S. bank collapse, the biggest bank failure since 2008.Several bank stocks were repeatedly halted on Friday, including First Republic, PacWest and crypto-focused Signature Bank. 

SVB was a vital lifeline and conduit to Wall Street finance, for some biotech companies, especially smaller, less-tested startups. SVB also held some of the companies’ cash on hand. As a result, the SPDR S&P Biotech ETF slumped 3.9%  

February jobs report gave some hints that inflation could be slowing. Payrolls increased more than expected, but gain in wages is smaller-than-expected, raising hopes that the Federal Reserve to rethink its aggressive stance on rate hikes.

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