Bank of America Corp.'s worse-than-expected loss dragged down bank stocks Friday.
The KBW Bank Index fell 3.21%, ending the week down less than 1%.
B of A's shares fell 4.6%, after the company said Friday that it lost $1 billion, or 26 cents a share, in the third quarter, missing the average analyst estimate by 5 cents. Credit losses more than doubled from a year earlier, to $9.6 billion.
Decliners were across the board.
JPMorgan Chase & Co., fell 2.3%, Wells Fargo & Co., 4.3%, PNC Financial Services Group Inc., 2.4%, U.S. Bancorp, 2.5%, and Citigroup Inc., 16 cents, to $4.59.
Among the regionals, SunTrust Banks Inc. fell 2.4%, Capital One Financial Corp., 4.6%, BB&T Corp., 1.3%, KeyCorp, 3%, Regions Financial Corp., 4.3%, Fifth Third Bancorp, 5.4%, and Comerica Inc., 3.3%.
There were some gainers, including First Horizon National Corp., which rose 0.1% after it reported better-than-expected results for the third quarter.
The Dow Jones industrial average fell 0.67% and the Standard & Poor's 500 index fell 0.81%.
