Just How Bad -Are- Financials Now?
Financials account for some 12 percent of the S&P 500 — but 30 percent of the decline Wednesday. So who's the worst of the worst?
- JPMorgan Chase alone accounts for 10 percent of the Dow's decline.
- while JPM, Bank of America, Citigroup and General Electric account for 26 percent of the Dow's 218 point drop (as of this writing)...
Interestingly — and reflective of how beaten down C and BAC are — IBM is hurting the index almost twice as much as BAC is today...
...and United Technologies is having a 20 percent bigger impact on the Dow than Citigroup — and C & BAC are each down more than 10 percent.
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