The Dow Jones Industrial Average fell over 280 points on Wednesday as investors digested two economic prints that showed a slowdown in February and weighed the future of Credit Suisse (CS  ) that renewed concerns over the financial sector. The S&P 500 Index ended the session 0.7% lower, while the Nasdaq Composite closed at a positive flatline.

Here's how the market settled on Wednesday:

S&P 500 Index (SPY  ): -0.70% or -27.36 points to 3,891.93

Dow Jones Industrial Average (DIA  ): -0.87% or -280.83 points to 31,874.57

Nasdaq Composite Index (QQQ  ): +0.05% or +5.90 points to 11,434.05

Taking centerstage on Wednesday, Credit Suisse shares fell nearly 14% after the chairman of its biggest backer, Saudi National Bank, said it will not provide further financial support to the Swiss lender.

The news came after Credit Suisse said earlier this week it had found "certain material weaknesses in our internal control over financial reporting," for the years 2021 and 2022. The bank's stock was halted several times throughout the morning due to volatility.

The renewed financial turmoil hit the financial sector hard, with the Financial Select Sector SPDR Fund (XLE  ) losing 2.6%, giving up its 2% gain from Tuesday's session. Citigroup (C  ) lost 5%, while Wells Fargo (WFC  ) and Goldman Sachs (GS  ) each fell about 3%, and JPMorgan (JPM  ) and Bank of America (BAC  ) were lower as well.

That stress on the financial sector led Goldman Sachs to lower its 2023 economic growth forecast by 0.3 percentage points to 1.2%, citing a pullback in lending from small- and medium-sized banks.

"Small and medium-sized banks play an important role in the US economy," Goldman analysts wrote in a note on Wednesday. "Any lending impact is likely to be concentrated in a subset of small and medium-sized banks."

On the economic front, the Commerce Department said U.S. retail sales fell 0.4% in February over January, likely moderating from the previous month's outsized increase. Data for January was revised higher to show retail sales rising 3.2% instead of the previous 3.0% print.

Meanwhile, February's producer price index (PPI), which measures what suppliers are charging businesses, unexpectedly declined 0.1% over the prior month, according to the Labor Department's report. On a 12-month basis, the index rose by 4.6%, below the previous month's revised level of 5.7%.

Elsewhere, the National Association of Home Builders/ Wells Fargo Housing Market Index rose two points to 44, with any reading below the neutral level of 50 indicating negative sentiment.

"While financial system stress has recently reduced long-term interest rates, which will help housing demand in the coming weeks, the cost and availability of housing inventory remains a critical constraint for prospective home buyers," said Robert Dietz, NAHB's chief economist, in a release.

Looking ahead, market participants will continue to monitor news out of the banking sector and look for clues on the Federal Reserve's next moves.