Banking stocks declined today, as the KBW Banking Index fell 1.84% and the KBW Regional Banking Index fell 0.57%. The broader S&P 500 Index was down 2.20%.

The Bank Index was led by Northern Trust Corporation, PNC Financial Services Group, and Bank of America, which were down 7.96%, 4.10%, and 4.06%, respectively. The best performers of the day were State Street Corporation, People’s United Bank, and KeyCorp, which had gains of 2.28%, 1.64%, and 0.92%.

People’s United is set to be added to the S&P 500 Index.

Leading the Regional Index lower were Frontier Financial Corporation, South Financial Group, and Colonial Bancgroup, which were down 39.48%, 21.03%, and 12.68%, respectively. The best performers of the day were National Penn Bancshares, Corus Bankshares, and FirstMerit Corporation, which had gains of 5.50%, 4.64%, and 3.38%.