Banking stocks fell with the overall market Friday as some disappointing economic data weighed on investor sentiment.
The KBW Bank Index fell for the third straight day, losing 0.88%.
Bank stocks fell with other sectors on news that demand for durable goods orders had dropped unexpectedly, while new-home sales rose less than forecast.
Orders for goods meant to last several years fell 2.4% in August, the Commerce Department said. New-home sales, meanwhile, rose just 0.7% in August, or an annualized rate of 429,000 units. Economists had projected an increase to a rate of 440,000 units.
The Dow Jones industrial average fell 0.44%, while the Standard & Poor's 500 index fell 0.61%.
The largest banks ended the week on a down note.
JPMorgan Chase & Co. fell 1.62%; Wells Fargo & Co., 0.91%; Bank of America Corp., 2.24%; and Citigroup Inc. lost 5 cents to close at $4.38.
At least two of the largest regional banks rose slightly. PNC Financial Services Group Inc. gained 0.94% and U.S. Bancorp climbed 0.73%.
Other regionals did not far well. Losers for the day included BB&T Corp., down 2.27%; Regions Financial Corp., 0.16%; SunTrust Banks Inc., 1.42%; and KeyCorp, 2.35%.
