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Nov. 18, 2011, 4:31 p.m. EST

Financial stocks among week’s hardest hit

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By Greg Morcroft, MarketWatch

NEW YORK (MarketWatch) — Financial stocks traded broadly higher Friday but not enough to make up all the ground lost earlier in the week.

The Financial Select Sector SPDR ETF /zigman2/quotes/209660484/composite XLF -1.11% , which tracks the financial stocks in the S&P 500, finished the week down 5.5% at $12.50. The KBW Bank Index /zigman2/quotes/210598427/realtime BKX -1.25% , which tracks the top 24 U.S. banks, lost 5%.

/zigman2/quotes/209660484/composite XLF 37.54, -0.42, -1.11%
/zigman2/quotes/210599714/realtime SPX 4,513.04, -53.96, -1.18%

Overall, the financial sector was the hardest hit among the major industry groups on the S&P 500 Index /zigman2/quotes/210599714/realtime SPX -1.18% , which closed the week down 3.8%. Euro zone issues continued to make investors anxious.

In Friday trading, the NYSE Euronext gained after it and Deutsche Boerse said they sent a proposal to address the antitrust concerns of the European Commission over a pending merger of the two exchange operators.

NYSE Euronext  and Deutsche Boerse /zigman2/quotes/203431168/composite DBOEY -0.25%  proposed to sell the portions of their respective businesses in which they overlap, the market operators said in a joint statement.

“NYSE Euronext would divest its pan-European single equity derivatives business, including Bclear, except the options businesses in its home markets, where Deutsche Boerse would divest its respective business,” the statement said.

NYSE Euronext rose 2% to close at 27.10.

Among the biggest U.S. banks, J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM -0.59% , Citigroup Inc /zigman2/quotes/207741460/composite C -1.85% , and Wells Fargo gained.

Bank of America Corp /zigman2/quotes/200894270/composite BAC -1.42% and Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS -0.66%  edged lower.

/zigman2/quotes/209660484/composite
US : U.S.: NYSE Arca
$ 37.54
-0.42 -1.11%
Volume: 102.02M
Dec. 1, 2021 4:00p
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/zigman2/quotes/210598427/realtime
US : U.S.: Nasdaq
129.33
-1.63 -1.25%
Volume: 0.00
Dec. 1, 2021 5:16p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,513.04
-53.96 -1.18%
Volume: 3.04B
Dec. 1, 2021 5:04p
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/zigman2/quotes/203431168/composite
US : U.S.: OTC
$ 15.67
-0.04 -0.25%
Volume: 661,520
Dec. 1, 2021 3:51p
P/E Ratio
22.04
Dividend Yield
1.52%
Market Cap
$28.63 billion
Rev. per Employee
$627,395
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 157.89
-0.94 -0.59%
Volume: 12.26M
Dec. 1, 2021 4:00p
P/E Ratio
9.99
Dividend Yield
2.53%
Market Cap
$469.38 billion
Rev. per Employee
$492,730
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/zigman2/quotes/207741460/composite
US : U.S.: NYSE
$ 62.52
-1.18 -1.85%
Volume: 27.40M
Dec. 1, 2021 4:02p
P/E Ratio
5.85
Dividend Yield
3.26%
Market Cap
$126.40 billion
Rev. per Employee
$423,538
loading...
/zigman2/quotes/200894270/composite
US : U.S.: NYSE
$ 43.63
-0.63 -1.42%
Volume: 60.64M
Dec. 1, 2021 4:00p
P/E Ratio
13.05
Dividend Yield
1.93%
Market Cap
$363.95 billion
Rev. per Employee
$445,624
loading...
/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 376.48
-2.51 -0.66%
Volume: 2.48M
Dec. 1, 2021 4:00p
P/E Ratio
6.21
Dividend Yield
2.12%
Market Cap
$127.55 billion
Rev. per Employee
$1.31M
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Greg Morcroft is MarketWatch's financial editor in New York.

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