The stocks of 12 components, all banks, of the S&P 500
SPX,
-0.13%
are down more than 10%, and five stocks are down more than 20%. The biggest decliners are shares of First Republic Bank
FRC,
-75.60%,
down 74.3%; Comerica Inc.
CMA,
-32.14%,
shedding 45.7%; KeyCorp
KEY,
-30.20%,
losing 34.6%; Zions Bancorp
ZION,
-24.76%,
off 31.6%; and Fifth Third Bancorp
FITB,
-22.98%,
giving up 25.9%. Meanwhile, among some of the S&P 500’s larger capitalization banks, shares of J.P. Morgan Chase & Co.
JPM,
-1.74%
slid 0.8%, Bank of America Corp.
BAC,
-4.05%
sank 4.5% and Wells Fargo & Co.
WFC,
-5.79%
dropped 6.6%. The selloff comes in the wake of recent failures of S&P 500 components SVB Financial Group’s
SIVB,
Silicon Valley Bank and Signature Bank
SBNY,
-22.87%.
Meanwhile, the S&P 500
SPX,
-0.13%
was down 0.4%.
