Bank Stocks Sink Further Into Correction as Citigroup Tumbles
Bank stocks declined as the KBW Bank Index reached its lowest level since May. Investors are reacting to the economic impact of rising Treasury yields.
The benchmark KBW Bank Index shed as much as 2.4% to the lowest intraday since late May in Thursday trading, as investors assessed the impact to the economy and banks’ businesses from relentlessly climbing Treasury yields.
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