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A Bank Run Jolts Markets as Investors Weigh the Jobs Report



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Investors were pulled in two directions on Friday as the collapse of a small California bank raised concerns about the health of the banking sector, while fresh data on the labor market offered some reasons for optimism about the economy.The push-and-pull made for a turbulent day. Stocks started with a small gain before falling back. By midday, the S&P 500 had dropped by around 0.7 percent.Despite the swings in the stock market, the root cause remained the same: the overarching concern on Wall Street is still over how high interest rates might go, and what that means for the economy. The jobs data informed the pace of interest rate increases to come, while the stress in bank stocks reflected the pain inflicted by thos …

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