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Sept. 21, 2020, 7:33 a.m. EDT

Banks stocks sink after report of alleged widespread money-laundering activities

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By Tomi Kilgore

Bank stocks took a broad hit in premarket trading Monday, after reports were published alleging many major banks continued doing business with customers despite suspecting money-laundering activities. The SPDR Financial Select Sector ETF /zigman2/quotes/209660484/composite XLF -2.51% dropped 2.8% ahead of the open, underperforming the selloff in the broader stock market, as futures /zigman2/quotes/210407078/delayed YM00 -2.26% for the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -2.54% fell 528 points, or 1.9%. Among some of the financial ETF's more heavily weighted components, shares of J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM -2.84% slid 4.9%, Bank of America Corp. /zigman2/quotes/200894270/composite BAC -2.63% shed 3.8%, Citigroup Inc. /zigman2/quotes/207741460/composite C -2.32% declined 4.4% and Well Fargo & Co. /zigman2/quotes/203790192/composite WFC -2.04% lost 3.5%.

/zigman2/quotes/209660484/composite
US : U.S.: NYSE Arca
$ 24.62
-0.64 -2.51%
Volume: 18.18M
Oct. 26, 2020 11:43a
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/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 27,552.00
-637.00 -2.26%
Volume: 109,320
Oct. 26, 2020 10:33a
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,615.23
-720.34 -2.54%
Volume: 150.77M
Oct. 26, 2020 11:43a
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 100.86
-2.95 -2.84%
Volume: 4.44M
Oct. 26, 2020 11:43a
P/E Ratio
13.19
Dividend Yield
3.56%
Market Cap
$316.37 billion
Rev. per Employee
$497,647
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/zigman2/quotes/200894270/composite
US : U.S.: NYSE
$ 24.25
-0.65 -2.63%
Volume: 21.67M
Oct. 26, 2020 11:43a
P/E Ratio
12.01
Dividend Yield
2.96%
Market Cap
$215.74 billion
Rev. per Employee
$543,289
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/zigman2/quotes/207741460/composite
US : U.S.: NYSE
$ 42.93
-1.02 -2.32%
Volume: 7.52M
Oct. 26, 2020 11:43a
P/E Ratio
8.44
Dividend Yield
4.74%
Market Cap
$91.50 billion
Rev. per Employee
$479,167
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/zigman2/quotes/203790192/composite
US : U.S.: NYSE
$ 22.81
-0.47 -2.04%
Volume: 11.22M
Oct. 26, 2020 11:43a
P/E Ratio
61.51
Dividend Yield
1.75%
Market Cap
$96.20 billion
Rev. per Employee
$392,114
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