The stock market took more punishment Monday, and shares of financial companies fell with the generally pessimistic mood.
The American Banker index of 225 banks lost 1.5%, and its index of top 50 banks 1.7%. The Dow Jones industrial average lost 0.8%, with components Citigroup and J.P. Morgan & Co. dragged down in the selloff. The two lost $1, or 1.9%, and $3.75, or 2.4%, closing at $50.50 and $153.25 respectively. The S&P 500 index fell 1.1% and the Nasdaq shed 2.05%.