Here's Why Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo Are Falling on Wednesday

After a week or so of relatively strong performance, the stock market is in the red on Wednesday. As of 11 a.m. EDT, the Dow Jones Industrial Average is down by 2.4% and the S&P 500 benchmark index is 2.8% lower.

As we've witnessed several times throughout the recent market downturn, the financial sector is getting hit even harder than the broader market. All of the "big four" U.S. bank stocks are underperforming the market -- JPMorgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC) are both down by about 5% while Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) are the laggards with 7% declines.

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Source Fool.com