Stocks have fallen to a fresh session low. The S&P 500 is now hovering only a few points above its 52-week low of 839.8.
The recent downturn has been led by the financial sector, which has
tucked tail to trade with a 3.9% loss. It is now the worst performing
economic sector this session.
Bank of America (BAC 15.61, -1.39) and Citigroup (C 8.60, -1.04) are
the sector's primary laggards. Citigroup, according to reports, may be
looking to replace its board chairman, given the company's weak
performance. Separate reports indicated Citi is pursuing regional
lender Chevy Chase Bank.