Bank stocks led the market lower today, as the KBW Banking Index fell 6.79% and the KBW Regional Banking Index fell 5.16%. The broader S&P 500 Index was down 1.20%.

The Bank Index was led by Huntington Bancshares Incorporated, Fifth Third Bancorp, and Capital One, which were down 21.37%, 17.69%, and 17.44%, respectively.  Leading the Regional Banking Index lower were South Financial Group, Colonial Bancgroup, and Pacific Capital Bancorp, which were down 22.76%, 16.67%, and 12.67%, respectively.

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