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Bank Stocks Are On Their Longest Losing Streak Ever

  • S&P 500 Financials Index falls for 12th straight day
  • Financial Select Sector SPDR Fund ETF sees 8 days of outflows
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Recession Concerns Could Give Fed Rate Path a Break, Says Marinov

Bank stocks just hit a record -- a record of losses.

The S&P 500 Financials Index fell for the 12th straight day Tuesday, the longest losing streak on record. Coming into the year, many cited the tax overhaul and a rising rate environment as reasons for banks to rally. Instead, they’ve endured pressure from a flattening yield curve. The losses also come ahead of the final phase of the Federal Reserve’s annual stress tests and waning consumer confidence.