The Dow logged a fifth-straight loss today, erasing a triple-digit lead to settle 90 points lower. It was a choppy day on Wall Street, as the Federal Reserve, Treasury Department, and Federal Deposit Insurance Corporation joined forces to save the banking sector after failures at SVB Financial Group (SIVB) and Signature Bank (SBNY). The S&P 500 closed marginally lower for a third consecutive loss, while the tech-heavy Nasdaq stayed in the black as Treasury yields suffered a sharp decline.

Investors are hoping recent headlines will be enough to stop the central bank dead in its tracks when it comes to hiking interest rates aggressively, or at even all. The Cboe Volatility Index (VIX), Wall Street's fear gauge, logged its third-straight win and highest close since Oct. 27.

GOLD RISES ON THE BACK OF THE BANKING SECTOR'S INSTABILITY

Oil prices settled lower on Monday, as concerns over the banking industry's health spilled into the energy sector. Investors are worried an economic slowdown could hurt demand. April-dated crude shed $1.88, or 2.5%, to close at $74.80 per barrel on the day.

Meanwhile, gold prices finished at their highest level in over one month as U.S. regulators scrambled to stop a financial crisis from forming. A weaker U.S. dollar and falling Treasury yields also sparked interest in the precious metal. April-dated gold added $49.30, or 2.6%, to close at $1,916.50 per ounce.

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