us stocks tumbled on wednesday as concerns over the health of credit suisse sparked renewed bankingsector anxiety while both us wholesale prices and retails sales declined in february hinting at easing us inflation on tuesday the dow jones industrial average rose 336 points or 106 to 32155 the sp 500 increased 64 points or 165 to 3919 and the nasdaq composite gained 239 points or 214 to 11428 major us stock indexes slid on wednesday after the slump in shares of credit suisse stoke fears of broader banking sector issues following the fallout of silicon valley bank and signature bank in the us see credit suisse shares tumble to new record low as european banking sector reels adr shares csgneb of the switzerlandbased wall street bank credit suisse tumbled nearly 25 on wednesday after its biggest backer saudi national bank told bloomberg news that it would not provide further financial support for the bank the volatility prompted an automatic pause in trading of the banks shares on the swiss market and pressured the rest of the european banking sector the euro stoxx banking index dropped 82 with shares of major french banks societe generale declining by nearly 12 and bnp paribas fell 10 on tuesday credit suisse said in its annual report that it had material weaknesses in financial controls the bank has lost money for five straight quarters and its wealthy clients in the fourth quarter withdrew about 100 billion from the bank see regional and big bank stocks choppy amid rising fears of banking crisis us economic data showed that sales at retailers fell 04 in february and declined for the third time in four months pointing to a slowdown in consumer spending still the controlgroup retailsales category which is used as a proxy for calculating personalconsumption expenditures rose 05 after a 23 increase in february noted eugenio aleman chief economist at raymond james consumer spending is weakening but still shows signs of resilience according to edward moya an analyst at oanda meanwhile us wholesale prices dropped 01 in february economists polled by the wall street journal had forecast a rise of 03 the core producerprice index which excludes volatile food energy and trade prices went up 02 in february seewholesale prices decline ppi shows and hint at easing us inflation despite todays economic reports producer prices and retail sales printing lowerthanexpected numbers the declines in both releases are not broadbased which supports our belief that the federal reserve fed will raise rates by 25 basis points at the upcoming march meeting aleman wrote in wednesday note markets expect the fed to raise interest rates by 25 basis points to a range of 47 to 5 after its meeting on march 22 just two days ago traders were betting the fed could leave rates unchanged in a weeks time in order to soothe anxiety in the banking sector the market is being hypersensitive to the fact that poorly run banks are beginning to get punished and the sector is being pushed down by some banks that have poor management not systemic risk said dryden pence chief investment officer at pence capital management sharp movements in government yields pushed the ice bofaml move index a gauge of implied treasury volatility to a near 14year high on tuesday a rising move index has tended of late to pressure equities because the uncertainty in bonds makes it more difficult to value stocks this content was created by marketwatch which is operated by dow jones  co marketwatch is published independently from dow jones newswires and the wall street journal