Financial stocks were slumping Monday as investors reacted to the spread of the coronavirus, which now has been found in more than two dozen countries.
The Financial Sector SPDR Fund (XLF) – Get Report was down 2.6% to $29.97.
Treasury yields were falling, with 10-year Treasury yields down to 1.365% and 30-year Treasury notes falling to 1.823%.
Bank of America (BAC) – Get Report gave up nearly 4% to $33.01.
Wells Fargo (WFC) – Get Report was off 2.2% to $46.67.