U.S. stocks end mixed, bank shares rise

NEW YORK, March 27 (Xinhua) -- Wall Street's major averages closed mixed on Monday as bank shares rebounded, while tech lagged.

The Dow Jones Industrial Average rose 194.55 points, or 0.6 percent, to 32,432.08. The S&P 500 added 6.54 points, or 0.16 percent, to 3,977.53. The Nasdaq Composite Index sank 55.12 points, or 0.47 percent, to 11,768.84.

Eight of the 11 primary S&P 500 sectors ended in green, with energy and financials up 2.1 percent and 1.4 percent, respectively, outpacing the rest. Communication services and technology slipped 1.08 percent and 0.85 percent, respectively, the two worst-performing groups.

The banking sector remained a focus on Wall Street.

Shares of First Citizens BancShares soared more than 50 percent on Monday, after the North Carolina-based lender said it would acquire Silicon Valley Bank (SVB), a tech-focus lender that failed earlier this month and triggered bank turbulence.

The rapid collapse of SVB, followed by continued pressure on regional banks, has the market on alert for other potentially vulnerable banks.

The U.S. Senate Banking Committee will hold a hearing on bank failures on Tuesday.

For the week ending Friday, the Dow climbed 1.2 percent, the S&P 500 rose 1.4 percent and the Nasdaq advanced 1.7 percent.

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