Bank stocks and the broader markets fell Wednesday on home sales declines.
The KBW Bank Index fell 3.29%, the Dow Jones industrial average 1.21% and the Standard & Poor's 500 index 1.95%.
The Commerce Department said Wednesday that new-home sales in September fell 3.6% from August to 402,000. Analysts on average had expected 440,000 new homes to be sold during that month.
Decliners were across the board.
JPMorgan Chase & Co. fell 2.8%, Bank of America Corp., 2.9%, Wells Fargo & Co., 3.3%, PNC Financial Services Group Inc., 2.2%, U.S. Bancorp, 3%, and Citigroup Inc., 19 cents, to $4.08.
Among the regionals, SunTrust Banks Inc. fell 1.6%, BB&T Corp., 2.5%, Capital One Financial Corp., 5.7%, KeyCorp, 5.7%, Regions Financial Corp., 4.9%, Fifth Third Bancorp, 3.6%, M&T Bank Corp., 2.7%, and Zions Bancorp., 4.7%.
