Tuesday, March 10, 2020
Crisis-era weakness among U.S. bank stocks is back again
U.S. banks are worse off than they were after the 2008 financial crisis, judging by their stock performance. The ratio between the KBW Bank Index and the S&P 500 Index fell Monday to its lowest level since at least 1992, according to data compiled by Bloomberg. The previous record was set on March 6, 2009, at the end of a bear market tied to the crisis. “Banks are now our biggest concern,” Jonathan Krinsky, chief market technician at Bay Crest Partners LLC, wrote Friday in a report that cited the ratio.
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