Stocks declined dramatically today, as the KBW Banking Index fell 17.42% and the KBW Regional Banking Index fell 16.62%. The broader S&P 500 Index was down 8.93%.

The Bank Index was led by KeyCorp, Citigroup, and M&I, which were down 22.71%, 22.20%, and 22.01%, respectively. Leading the Regional Banking Index lower were Frontier Financial Corporation, Citizens Republic Bancorp, and Sterling Financial Corporation, which were down 37.41%, 26.69%, and 25.75%, respectively.

Every member of both the Bank Index and the Regional Banking Index declined today.