Bank stocks took a beating Thursday after the Commerce Department reported the economy grew faster during the first quarter than experts had estimated.

The 2.8.% growth rate represented a significant leap from the previous quarter's sluggish 0.5%. The news sent Treasury bond prices falling as investors worried that inflation and interest rates would also rise.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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