Despite Silicon Valley Bank's emergency backup, the Dow declines for a sixth day: Live updates

The failing Silicon Valley Bank's pledge to backup all of its depositors, coupled with other exceptional steps, failed to increase bank shares, resulting in a decline in the Dow Jones Industrial Average on Monday.

Losses were kept in check because some investors staked that the financial shock may prompt the Federal Reserve to put a stop to interest rate increases.

To conclude at 31,819.14, the Dow Jones Industrial Average dropped 90.50 points, or 0.28%. With Monday's session, the 30-stock index, which had lost more than 284 points earlier in the session, recorded its sixth straight day of losses.

The S&P 500 dropped as much as 1.37% at one time before finishing down 0.15% at 3,855.76. The Nasdaq Composite ended the day at 11,188.84 points, up 0.45%.

The Cboe Volatility index (VIX), Wall Street's go-to fear measure, increased by over 2 points to hit a level last seen in late 2022 and crept closer to territory regarded as very dangerous. In the meanwhile, Monday's decline in Treasury rates helped to underpin equities to some extent.