Bank stocks led the market lower today, as the KBW Banking Index fell 4.96% and the KBW Regional Banking Index fell 3.52%. The broader S&P 500 Index was down 1.98%.

The Bank Index was led by Bank of America, Wells Fargo, and KeyCorp, which were down 10.68%, 9.27%, and 8.79%, respectively. The best performers of the day were Synovus Financial, Northern Trust Corporation, and Citigroup, which had gains of 3.69%, 2.17%, and 0.77%.

Leading the Regional Banking Index lower were Colonial Bancgroup, Frontier Financial Corporation, and South Financial Group, which were down 42.98%, 37.18%, and 26.85%, respectively. The best performers of the day were Citizens Republic Bancorp, Synovus Financial, and Eggemeyer Advisory Corp., which had gains of 4.26%, 3.69%, and 0.97%.