U.S. stocks swung higher on Thursday following a report that several big banks were considering a deal to shore up troubled regional lender First Republic Bank, helping assuage concerns about the state of troubled regional lenders.

What’s happening

The S&P 500 and Dow finished lower on Wednesday, with the Dow falling 281 points, after a late-day rebound spared investors from even steeper losses. The Nasdaq finished the day marginally in the green after staging its biggest intraday reversal since October.

accWhat’s

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