Fueled by China tariff concerns and a flattening yield curve, the major U.S. stock-market indexes tumbled by more than 3% on Tuesday.
Bank stocks in particular took a drubbing, as investors worried that a flattening yield curve would ding lending margins. Giants like Citigroup (C), JPMorgan Chase (JPM), and Bank of America (BAC) lost more than 4% each.
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Susan Dziubinski does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.