Stocks gave back most of yesterday’s gains today after disappointing economic reports on unemployment claims and new home sales were released. The KBW Banking Index fell 8.29% and the KBW Regional Banking Index fell 5.87%. The broader S&P 500 Index was down 3.31%.

The Bank Index was led by Capital One, Fifth Third Bancorp, and SunTrust, which were down 16.90%, 14.33%, and 11.88%, respectively. Leading the Regional Banking Index lower were Frontier Financial Corporation, Provident Financial Services, and Webster Financial Corporation, which were down 31.07%, 20.67%, and 20.52%, respectively.