Shares of banks that are the biggest lenders to the energy sector fell sharply at the open Monday, before stocks were halted after triggering trading limits. JPMorgan Chase (JPM) was down 11.7%, Bank of America Corp. (BAC) fell 14%, Citigroup Inc. (C) was down 13% and Wells Fargo & Co. (WFC) was down about 10%. The Financial Select Sector SPDR ETF (XLF) had not yet traded. Oil stocks fell sharply as crude prices tumbled more than 20%, amid a price war between Saudi Arabia and Russia. The Jones Industrial Average was down 1,884 points and the S&P 500 was down 165 points. Stocks are expected to resume trading at 9.49 a.m. Eastern Time.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 09, 2020 11:41 ET (15:41 GMT)
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