3/27, 10:01 PM (Source: TeleTrader)
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Dow closes 200 pts higher on Silicon Valley Bank takeover

Major stock markets in the United States closed Monday's session on a mixed note, with the Dow Jones soaring nearly 200 points following the merger deal between the collapsed Silicon Valley Bank and First Citizens Bank. Meanwhile, investors prepared for the newest fourth-quarter GDP data due to come out on Thursday.

The Dow jumped 0.60% or 194 points at the closing bell, while on the other hand, the Nasdaq 100 declined by 0.74%. The S&P 500 rose 0.16%, led by First Republic Bank that surged 11.98% and spurred hope for the banking sector's recovery.

The euro gained 0.31% against the dollar to sell for 1.07938 at 3:57 pm ET, stabilizing after registering losses in the second half of last week.

Baha Breaking News (BBN) / ND