Stocks declined sharply again today, as the KBW Banking Index fell 11.08% and the KBW Regional Banking Index fell 7.98%. The broader S&P 500 Index was down 6.12%, hitting its lowest level since 2003.

The Bank Index was led lower by Citigroup, KeyCorp, and National City, which were down 23.44%, 18.86%, and 15.24%, respectively.  Leading the Regional Banking Index lower were Corus Bankshares, Colonial Bancgroup, and Frontier Financial Corporation, which were down 31.09%, 26.51%, and 25.00%, respectively.

Every member of both the Banking Index and the Regional Banking Index declined today.