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Stocks close lower for a fourth day on renewed bank worries, Dow goes negative for 2023: Live updates

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Stocks declined Thursday, as contagion fears in the regional bank space were reignited. The Dow fell 0.86%. The S&P 500 shed 0.72%. The Nasdaq was down 0.49%.

Investors also digested the Federal Reserve's 25 basis point rate hike and commentary following its Wednesday meeting.

"So, I do not think that the Fed will have to raise rates any further the rest of this year, although tomorrow's data on the jobs reading will be important to watch," he added. "We expect the S&P 500 to retrace back to previous swing lows around 3,800 as we continue through a pivotal earnings season," he told CNBC.

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