Bank stocks tumbled with the rest of the market Thursday, as unfavorable economic news and questions about bank performance reports stoked investor fears about a near-term interest rate hike and chipped away at confidence in the bigger banks.

Hawkish comments about interest rates from Federal Reserve Governor Edward Kelley and several reports indicating that the economy is surging caused a stampede out of bank stocks. A rash of headlines about money laundering and fraud in U.S. banks also may have contributed to the selling atmosphere.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.