Financial Stocks Taking it on the Chin

Wall Street

Ah, Greece. We just can’t quit you it seems. With the bond swap deal deadline fast approaching, the jitters have returned with a vengeance on Wall Street. Over the past few weeks the Dow has been trading pretty much sideways as it looked for that catalyst to propel it well past Dow 13k. Well gravity took over today, sending the Dow down over 200 points.

Financial stocks are among the hardest hit thanks to uncertainty over the Greek rescue plan. Contagion with other EU countries is also becoming a concern. Earning are also weighing heavily on financial stocks after Goldman posted its first loss in Asia since 2008.

Financial Stocks to Watch

Bank of America Corporation (NYSE:BAC) is down 3.89% this afternoon at $7.68. BAC has traded 205 million shares so far today and trades about 273 million shares a day on average. BAC shares have dropped about $0.50 over the past two days as it follows the market sell off. Usually whatever direction the market trades in, BAC follows. The company has a market cap of 82.32 billion.

JP Morgan Chase & Co. (NYSE:JPM) is down 2.82% today at $39.27. JPM is trading slightly below average volume today with 24.9 million shares traded. The stock typically trades 33.4 million shares a day on average. JPM shares have fallen more than $1 over the past three days. The company has a market cap of 147.93 billion.

American Express Company (NYSE:AXP) is down 2.25% in afternoon trading at $51.78. AXP has traded 4 million shares so far today and trades 6 million shares a day on average. AXP shares have dropped $2 in the recent market downtrend. The company has a market cap of 62.14 billion.

Citigroup, Inc. (NYSE:C) is down 4.87% this afternoon at $32.04. C has traded 39.6 million shares so far today and trades 48.7 million shares on average everyday. Citigroup stock has dropped more than $2 a share since last Friday. The company has a market cap of 93.64 billion.

Wells Fargo & Company (NYSE:WFC) is down 2.95% at $30.07. WFC has traded 20.1 million shares so far today and trades 30.4 million shares a day on average. Wells Fargo has fallen more than $1.50 since last Wednesday. The company has a market cap of 158.36 billion.

Sign up for our newsletter

> Investment News
> Latest Investing Products
> Breaking News

Sign Up Free Today!

About Danny Fisher

Danny is the old hat at Active Investor. One of the been around the block a few times traders, his main focus is on overall market conditions. Be it some new merger talk or Washington being Washington, you can expect Danny will be on top of it.

Speak Your Mind

*

Real Time Web Analytics