From The Economic Times · · 1m 30s
US Bank Stocks Face Longest Weekly Losing Streak Since 2008
US bank stocks head for longest weekly losing streak since 2008 as mixed earnings worsen sector sentiment.
In brief
US bank stocks head for longest weekly losing streak since 2008 as mixed earnings worsen sector sentiment. US bank stocks face their longest weekly losing streak since 2008 after mixed quarterly earnings failed to improve sector sentiment. Originally reported by The Economic Times.
US Bank Stocks Head for Longest Weekly Losing Streak
US bank stocks headed for their longest weekly losing streak since the 2008 global financial crisis after mixed quarterly earnings failed to improve sector sentiment.
KBW Bank Index Declines 1.3% Weekly
The 24-member KBW Bank Index fell about 1.3% during the week and remained in correction territory, having declined roughly 13% from its August record.
Sixth Consecutive Weekly Loss
The index was on course for a sixth consecutive weekly loss, its longest such run since 2008.
Bank Stocks Under Pressure
Bank stocks faced pressure amid concerns about how artificial intelligence could disrupt financial services and hotter-than-expected inflation.
Bloomberg Analyst Herman Chan
Bloomberg Intelligence analyst Herman Chan said large banks faced challenges including interest rates remaining elevated longer, which could slow economic growth and increase loan losses.
AI Threatens Bank Profitability
Rising funding costs for AI companies created uncertainty about capital-markets revenue linked to infrastructure investment, with agentic AI posing a longer-term threat to stable, low-cost deposits.
Wider Economic Concerns
Persistent weakness in bank shares raised concerns about the wider economy because lenders played a key role in supporting growth through credit.
What it means
US bank stocks face their longest weekly losing streak since 2008 after mixed quarterly earnings failed to improve sector sentiment.
