Dow tumbles 345 points as the biggest bank failure since 2008 rattles nerves

• Stocks dropped sharply Friday after regulators closed Silicon Valley Bank. 
• The bank failure is the biggest since the 2008 financial crisis and has sparked contagion fears. 
• The S&P 500 is close to losing its 2023 gains. 

US stocks sank Friday, with a losing week capped by the largest bank failure since the global financial crisis and the prospect of higher interest rates.