Stock Market Volatility Persists Amid Banking Sector Concerns and Tech Frenzy

The SPDR S&P 500 ETF Trust experienced another volatile week of trading amid ongoing concerns over the stability of the banking industry. Deutsche Bank shares dropped more than 3% after the price of the bank's credit default swaps jumped, indicating market concerns about the bank's health. The U.S. banking sector has dealt with its own liquidity issues in recent weeks. The Federal Reserve raised its outlook for 2023 core personal consumption index inflation to 3.6%. Amazon announced another 9,000 layoffs in addition to the 18,000 job cuts the company executed between November and January in its ongoing cost-cutting efforts.