Bank stocks led the market lower today after Citigroup agreed to convert preferred stock held by the government into common shares. The market was also impacted by a report that GDP fell an annualized 6.2% at the end of last year, a larger decline than expected.
Bank stocks outpaced the market today, as the KBW Banking Index rose 4.83% and the KBW Regional Banking Index rose 3.02%. The broader S&P 500 Index fell 1.58%.
Stocks were mixed today, as the KBW Banking Index rose 2.43% and the KBW Regional Banking Index rose 0.43%. The broader S&P 500 Index declined 1.07%.
Bank stocks led the market higher today after Federal Reserve Chairman Ben Bernanke told Congress that the recession may end this year and that there are no plans to nationalize banks. The KBW Banking Index rose 13.59% and the KBW Regional Banking Index rose 7.35%. The S&P 500 Index was up 4.01%.
Stocks declined today, as the S&P 500 reached its lowest level since 1997. The KBW Banking Index was flat on the day, while the KBW Regional Banking Index fell 2.69%. The broader S&P 500 Index was down 3.47%.
Stocks declined today, as fears of bank nationalization gripped the market. The KBW Banking Index fell 0.60% and the KBW Regional Banking Index fell 0.28%. The broader S&P 500 Index was down 1.14%.
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%.