Financial stocks outpace broad market into the red after Credit Suisse warning

40634 financial stocks outpace broad market into the red after credit suisse warning

Credit Suisse AG’s CS, +2.04% warning of a second-quarter loss weighed on bank stocks on Wednesday, as the sector moved more deeply into the red than the broad market. The Dow Jones Industrial Average DJIA, -0.14% dropped 0.7%, while components JPMorgan Chase & Co. JPM, -0.72% and Goldman Sachs Group Inc. GS, -0.74% gave up 1% each. Citigroup C, -0.23% dropped 0.8%, Wells Fargo & Co. WFC, -1.12% subtracted 1.5%, Bank of America Corp. BAC, -1.05% fell 1.4% and Morgan Stanley MS, -0.30% lost about 1%. U.S.-listed shares of Credit Suisse dipped 0.7%.

Source: Marketwatch

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