Stocks fall on Wall Street as bank worries spread to Europe

Much of the damage is seen as the result of the Federal Reserve’s fastest barrage of hikes to interest rates in decades.

NEW YORK — Markets shuddered Wednesday on worries about a spreading banking crisis and how badly it will hit the economy, and stocks and bond yields fell on both sides of the Atlantic.

The S&P 500 sank as much as 2.1% before ending the day with a loss of 0.7%, while markets in Europe fell more sharply as shares of Switzerland’s Credit Suisse dropped to a record low. The Dow Jones Industrial Average lost 280 points, or 0.9%, after dropping as much as 725

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