Power Breakfast: Dow Closes Nearly 200 Points Higher, S&P 500 Notches Third Straight Advance As Bank Shares Jump

US market witnessed mixed action on Monday amid heavy volatility. The Dow closed up 200 points amid trading in a range of 300 points. Whereas, the Nasdaq slipped 0.5% to close at the day's low. The 10-year bond yield jumped sharply to cross 3.5%. Fed's James Bullard said that rates are likely to increase further. There was action in bank shares due to the news of First Citizen Bank's purchase of SVB. Shares of First Citizen Bank jumped 53%.