Stock market news today: Regional bank stocks under new pressure

"While we remain cautious on stocks, we don't expect any kind of repeat of the 2008 financial crisis and we believe investors should be focused on how the Federal Reserve proceeds with its efforts to reduce inflation, which still remains high," Ryan Belanger, managing principal at wealth management firm Claro Advisors, in a Thursday note.

Thursday marks one year since the Federal Reserve embarked on its most aggressive run of rate hikes in decades. The abrupt failure of SVB after higher interest rates hammered the value of a big bond portfolio at the lender spurred traders to start pricing in a potential pause in rate hikes at the Fed's March 21-22 meeting.

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