Dow Jones down 345 on Friday (-1.07%). Up 167 at best. Down 471 at worst. S&P 500 down 1.45%. NASDAQ down 1.75%. S&P 500 had its biggest weekly fall since September down 4.55%. The Dow Jones fell 4.44% and the NASDAQ 4.71% on the week. The S&P 500 has almost lost its 2023 gains.

SPI Futures down 39. European markets lower, STOXX 600 down 1.35%, UK down 1.67%, with Deutsche Bank down 7.3% and most UK banks down 2.3% to 4.6%. Dow Jones on Friday - a late 100 point rally saves it closing on its low.

• Commodities - Gold jumped 1.94% as bond yields fell and as the US dollar dipped 0.66%. Metals mostly lower. BHP and RIO down 1.02% and 1.0% in the US.
• Wall Street tumbles, Treasury yields slide after jobs report as bank jitters spread.
• Fed under less pressure to speed rate hikes as wage gains cool.
• US jobs data can spare Fed rate ratchet.
• Strong US job growth persists; wage inflation shows signs of slowdown.
• Banking regulators shutter SVB, collapse unnerved investors.
• US bank stocks added to losses as regulators close SVB Financial.
• Californian tech bank SVB sews global fear about rising cost of money.
• Silicon Valley dies, but it’s disease lives on.
• Concentration risk an old lesson from SVB collapse.
• US deficit grows to $262 billion in February as tax refunds search.
• Meta looking to launch rival for Twitter.
• Biden - Payrolls report shows economy headed in the right direction.
• Ukraine says Bakmut battle is grinding down Russia’s best units.
• Tesla looks to Chinese and Korean material suppliers to help lower costs.
• Yellen warns U.S. House members of “economic collapse” if debt ceiling is not raised.
• Iran and Saudi Arabia moved towards the resumption of ties.
• Argentina set to hold interest rate at 75% in March as inflation nudges towards 100%.
• The aluminium price hits a two month low on higher rate expectations. (Aluminium is seen as being geared to economic growth more so than most other metals).

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