U.S. bank stocks slumped on Monday as fears of a recession sent investors fleeing from a sector closely tied to the health of the economy and toward safe-haven assets.
The S&P 500 Banks Index (.SPXBK), opens new tab, tracking a basket of large-cap bank stocks, closed down 2.4%, while the KBW Regional Banking Index (.KRX), opens new tab fell 2.8%.
Citigroup (C.N), opens new tab led big bank losses with a 3.4% fall.
JPMorgan Chase (JPM.N), opens new tab fell 2% and Bank of America (BAC.N), opens new tab declined nearly 2.5%. Goldman Sachs (GS.N), opens new tab dropped 2.5%.
Source: REUTER
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