Bank stocks dragged down the broader markets Monday after Rochdale Securities analyst Richard Bove said the sector would likely experience a retreat from recent rallies.

The KBW Bank fell 0.55%, the Dow Jones industrial average fell 0.5% and the Standard & Poor's 500 fell 0.81%.

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.