Stocks declined today after Standard & Poor’s Rating Service lowered its outlook on General Electric to negative. The KBW Banking Index fell 2.80% and the KBW Regional Banking Index fell 1.17%. The broader S&P 500 Index was down 2.12%.

The Bank Index was led by BB&T Corporation, National City, and Bank of New York Mellon, which were down 6.35%, 6.18%, and 5.86%, respectively. The best performers of the day were Fifth Third Bancorp, Capital One, and M&I, which had gains of 1.33%, 0.98%, and 0.78%.

Leading the Regional Banking Index lower were SVB Financial Group, Provident Bankshares Corporation, and Pacific Capital Bancorp, which were down 8.28%, 6.45%, and 6.37%, respectively. The best performers of the day were Wintrust Financial Corporation, Provident Financial Services, and Associated Banc-corp, which had gains of 3.22%, 3.18%, and 2.64%.