Bank stocks dive as Wall Street trembles amid SVB failure

Bank stocks are continuing to drop Monday as Wall Street worries about what may be next to topple following the second- and third-largest bank failures in U.S. history. But much of the rest of the market is rising on hopes the fear will force the Federal Reserve to take it easier on its economy-rattling hikes to interest rates.

The S&P 500 was up 16 points, or 0.4%, at 3,877 in midday trading after charging back from an early drop of 1.4%. The Dow Jones Industrial Average was up 95 points, or 0.3%, at 32,005, as of 12:42 a.m. EST, while the Nasdaq composite was 1.1% higher.