US stocks edged lower on Friday as investors continued to worry about the current state of the US banking industry.as they took advantage of their emergency backstop policies in a bid to shore up liquidity. The Fed's balance sheet rose by nearly $300 billion over the past week, essentially giving up half the progress it has made in reducing its balance sheet over the past year.
First Republic Bank shored up liquidity via a $30 billion capital infusion from major US banks like JPMorgan, Wells Fargo, Goldman Sachs, Morgan Stanley, and Bank of America, among others. Still, the dealHere's where US indexes stood shortly after the 9:30 a.m. ET open on Friday:
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