Banking stocks fell Friday as investors weighed the potential impact of global interest rate changes and soft U.S. capital markets activity.
The KBW Bank Index fell 0.95%, to 51.14.
Some national and large regional banks were down after the comptroller of the currency said trading revenue at U.S. commercial banks fell sharply last quarter.
After Goldman Sachs analysts lowered its earnings estimates on Bank of America Corp. and JPMorgan Chase & Co., citing weak capital markets activity, B of A fell 1.52% and JPMorgan Chase fell 0.46%. And after India's central bank raised its key interest rate, there were concerns that other large nations could follow suit.
The Dow Jones industrial average fell 0.35% and the Standard & Poor's 500 index fell 0.51%.
Wells Fargo & Co. rose 0.4% while Citigroup Inc. fell 12 cents, to $3.90.
A number of regional banks were down a day after SunTrust Robinson Humphrey lowered its rating on the sector over capital and asset-quality concerns.
BB&T Corp. fell 0.13%, M&T Bank Corp. fell 0.86%, Regions Financial Corp. fell 1.47% and Zions Bancorp. fell 2.73%.