Stock Market Today: Stocks Fall After First Republic Bank Suspends Dividend

The embattled lender's dividend cut was just the latest sign of instability in the banking industry.

ticker board with each stock in the red
(Image credit: Getty Images)

This week has been all about the banking industry, so it seems fitting that a key driver of the market Friday was news that a beaten-down bank suspended its dividend. 

This was the latest sign of instability in the embattled financial sector – and follows the failures of several U.S. regional lenders, including Silicon Valley Bank. As a result, nervous investors took risk off the table ahead of the weekend.  

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.