At the close of trade, the Dow Jones Industrial Average index declined 384.57 points, or 1.19%, to 31,861.98.
The S&P500 index fell 43.64 points, or 1.1%, to 3,916.64. The tech-heavy Nasdaq Composite Index decreased 86.76 points, or 0.74%, to 11,630.51.
For the week, the Nasdaq soared by 4.4% and the S&P 500 jumped by 1.4%, but the narrower Dow edged down by 0.2%.
Banking stocks pulled back sharply after rebounding in the previous session, with First Republic sliding nearly 33% and shares of Credit Suisse closing down nearly 7% as some traders looked to cash in on Thursday's rally amid lingering concerns about turmoil in the financial sector.
ECONOMIC NEWS: The Fed released a report showing U. S. industrial production was unexpectedly unchanged in February following a revised 0.3% increase in January.
A separate report from the University of Michigan showed consumer sentiment index slid to 63.4 in March from 67.0 in February.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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