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Financial stocks hard hit in selloff

Components of the Financial Select SPDR Fund (XLF) outpaced other sectors into the red in early trading on Monday as part of a broad market selloff tied to jitters around China property giant Evergrande. Berkshire Hathaway (BRKA) fell 1.6%, JPMorgan Chase (JPM) dropped 2.5%, Bank of America (BAC) gave up 2.9%, Wells Fargo (WFC) dropped 3.1%, Morgan Stanley (MS) fell 2.8%, Citigroup (C) retreated by 3.4%, Goldman Sachs (GS) dropped 3.1% and BlackRock (BLK) fell 2.6%. The Financial Select SPDR Fund is off by 2.1%, outpacing the 1.4% drop by the S&P 500 into negative territory.

-Steve Gelsi

 

(END) Dow Jones Newswires

09-20-21 0945ET

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