Shares of Mellon Bank Corp. slipped a notch Thursday amid anticipation, sparked by a report in The Wall Street Journal, that a successor to chief executive officer Frank V. Cahouet is about to be named.

But the Pittsburgh banking company was not alone. Bank stocks sold off broadly after disappointing fourth-quarter earnings for several key industrial companies dragged the entire market down.

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.