Bank stocks sold off sharply Tuesday, with Wall Street analysts citing both a recent dearth of merger deals and an uptick in market interest rates as reasons.

J.P. Morgan & Co. was off $1.25 to $80, First Chicago NBD Corp. $1.12 to $40.50, and Fleet Financial Group Inc. $1.12 to $40.

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.