Stocks plunged today after the government released its latest plan to help the struggling banking sector.  The KBW Banking Index fell 13.85% and the KBW Regional Banking Index fell 8.92%. The  S&P 500 Index was down 4.91%.

The Bank Index was led by Regions Financial Corporation, SunTrust, and KeyCorp, which were down 30.17%, 27.17%, and 26.58%, respectively. Leading the Regional Banking Index lower were Sterling Financial Corporation, Colonial Bancgroup, and Boston Private Financial Holdings, which were down 29.02%, 23.08%, and 21.40%, respectively.

All components of both the KBW Bank Index and the KBW Regional Banking Index fell today.