Bank stocks Wednesday endured their largest single-day decline this year as concern about higher interest rates resurfaced and led fearful investors to dump shares.

The Standard & Poor's bank index, which only last week tallied its best gain ever, plummeted 3.11%, far worse than the 1.93% drop in the Dow Jones industrial average. The broad-market S&P 500 stock index fell 1.47%

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.