Financial stocks continued to drag stock stock market down Friday, as the Dow Jones Industrial Average’s DJIA four financial components contributed about 40% of the index’s selloff. Shares of JPMorgan Chase & Co. JPM gave up 3.7%, insurer Travelers Companies Inc. TRV dropped 3.6%, American Express Co. AXP fell 3.2% and Goldman Sachs Group Inc. GS slid 3.0%. The combined price declines of those stocks reduced the Dow’s price by 170 points, while the Dow fell 439 points, or 1.4%. SVB Financial Group’s SIVBbankruptcy filing on Friday showed that the $30 billion infusion into First Republic BankFRC didn’t mean the crisis in investor confidence was over.
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