Despite the threat of bank runs and a quarter-point interest rate hike by the Federal Reserve, the Standard & Poor’s 500 stock index closed a volatile week with a gain of 1.4%.

The Federal Reserve raised the target range of its benchmark lending rate by 0.25% on Wednesday, despite the sudden onset of bank runs that erupted two weeks ago, when a run by depositors at Silicon Valley Bank spread fears that a banking crisis could destabilize other banks and spread to other banks, destabilizing the U.S. and global economy.