Stocks tumbled on Wednesday as fears grew that the banking turmoil sparked by the recent collapse of two U.S. banks will widen and spread globally.

The Dow Jones Industrial Average ended dow nearly 0.9%, or nearly 300 points after earlier tumbling well over 1% earlier in the day. The S&P fell 0.7%.

Markets have reeled since the twin failures of Silicon Valley Bank and Signature Bank forced U.S. regulators to take emergency measures on Sunday to protect deposits at both lenders.

But the government’s attempt to restore confidence in the banking sector has yet to work as investors remain deeply worried about the financial health of other banks.

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