US Bank Stocks Under Historic Pressure as KBW Index Logs Longest Streak Since 2008
The KBW Bank Index has fallen for six straight weeks, its longest losing stretch since the 2008 financial crisis, leaving large US banks at their lowest since early June.
Large US bank stocks are facing one of their toughest stretches this century. The KBW Bank Index has declined for six consecutive weeks, the longest such run since the 2008 financial crisis and the third-longest this century. Over that period, the index has lost 11% and sits at its lowest level since the first week of June.
Bank of America, State Street and Citigroup were among the worst performers, falling 18%, 14% and 10%, respectively. The pressure comes as investors weigh concerns that AI could disrupt financial services and as higher interest rate expectations weigh on the sector.
Mixed Q3 2026 earnings results reported last week did not ease the selling, leaving large US bank stocks with a weak year so far.
Source: The Kobeissi Letter