Bank stocks spent most of Monday in negative territory, as investors continued to worry whether the economy is recovering, and the KBW Bank Index fell 0.09%.

"It's a carryover from some of the negative economic news that we've had in recent days, which has put a damper on expectations that the economy was turning around," said Frank Barkocy, the director of research at Mendon Capital Advisors Corp. "While it's hard to make judgments on a couple of sets of numbers, it suggests that the recovery process might take longer than anticipated."

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