Signs of an economic slowdown continued to mount last week, but some fear the resulting rally in bank stocks may have run its course.

"The jury is still out," said Gary Schlossberg, senior economist at Wells Fargo Bank, San Francisco. "We don't yet know how much the economy will be slowing down. Beyond that, we don't know if it will be a sustained slowdown leading to real sluggishness later this year, or just a pause after a strong fourth quarter."

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