Power Breakfast: Dow Hits 4-Month Low, S&P 500, Nasdaq Fall Around 2% Dragged By Banking Shares; All Eyes On US Jobs Data

Heavy beating in bank stocks led to a sharp decline in the US market. The Dow slumped 550 points to a 4-month low. Whereas, the S&P 500 and Nasdaq declined by up to 2%. The S&P 500 bank index fell 6%, the biggest decline in 2 years. Apart from this, VIX of US jumped 18%. JPMorgan, Bank of America, other major banks fell up to 5%. SVB shares crashed 60% after the news of $2 billion funding from SVB Financial. Today, all eyes on the employment data for the February.