Credit Suisse's Struggles Spark Fear of Banking Crisis Contagion on Wall Street.

Wall Street closed lower on Friday amid fears of a banking crisis contagion and the possibility of a recession. Financial stocks were down the most among the major sectors of the S&P 500, with the S&P Banking index and the KBW Regional Banking index both plunging by about 21% over the last two weeks. Investors are now looking to the Federal Reserve's two-day monetary policy meeting next week. The Dow Jones Industrial Average fell 1.31%, the S&P 500 lost 1.17%, and the Nasdaq Composite dropped 0.8%.