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

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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