Bank stocks endured another steep selloff Monday as investors focused on how the global financial crisis may have cut into third-quarter earnings.

The Standard & Poor's bank index opened lower and stayed there, closing down 4.1% even as the rest of the market enjoyed a late afternoon rally. The S&P bank index is now off 15.7% since Jan. 1. The Dow Jones industrial average fell 0.8% Monday, or 63.34 points, to 7,721.35.

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