Bank stocks move into the red after inflation data

Bank stocks fell with the broad market in early trades on Monday, as Wall Street absorbed the impact of bearish Consumer Price Index data. JPMorgan Chase & Co. JPM, -3.15% fell 2.1%, Goldman Sachs Group Inc. GS, -3.58% dropped 2.2%, Citigroup Inc. C, -2.88% subtracted 2% and Wells Fargo & Co. WFC, -4.55% gave up 3.1%. Bank of America Corp. BAC, -2.92% dropped 2.3% and Morgan Stanley MS, -3.18% fell 2.7%. The S&P 500 SPX, -3.05% dropped by 2.3% and the Dow Jones Industrial Average DJIA, -2.67% fell 1.9%.