The Rebound in Bank Stocks Was Short Lived

The Wall Street Journal 2 months ago

Bank stocks have erased much of their September rally and are sliding once again in October, hurt by bets on lower interest rates and expectations for a turbulent earnings season.

Even with a rebound on trade hopes Wednesday, the KBW Nasdaq Bank Index of large bank stocks has fallen 4.7% so far this month, compared with a 2.2% decline for the S&P 500. In the past 12 months, the gauge of lenders has slid 11%, while the S&P is slightly higher.

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