NEW YORK—Fear rattled Wall Street, and stocks tumbled Friday on worries about what’s next to break under the weight of rising interest rates following the biggest U.S. bank failure in nearly 15 years.
The S&P 500 dropped 1.4 percent to cap its worst week since September. That’s despite a highly anticipated report on Friday showing pay raises for workers are slowing and other signals Wall Street wants to see of cooling pressure on inflation.
