Here's Why JPMorgan Chase, Bank of America, and Citigroup Are Plunging on Monday
The stock market is having one of its worst days in years, with the S&P 500 index down by about 6% at 3:50 p.m. EDT, but some sectors are getting hit harder than most. Financials are the second-worst-performing sector in the market, with the Financial Select Sector SPDR ETF (NYSEMKT: XLF) about 10% lower for the day.
And the big bank stocks are down even more. JPMorgan Chase (NYSE: JPM) is having its worst day since the financial crisis, down by 13%. Bank of America (NYSE: BAC) and Citigroup (NYSE: C) are both down by 15%.
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Source Fool.com
