Financial ETFs tumble as stock market pivots lower, led by Goldman, financials

Exchange-traded funds that track financials on Tuesday were helping to drag the stock market firmly lower in late-morning trade, with the three main benchmarks shaking off early opening gains. The Financial Select Sector SPDR ETF was off 1.5%, led by nearly losses of at least 3% from Bank of America Corp. , KeyCorp , and Fifth Third Bancorp . The exchange-traded SPDR S&P Bank ETF, which tracks smaller banks, was off nearly 3%, topped by a nearly 5% slide in shares of SVB Financial Group and Bank of the Ozarks Inc. . A 2% tumble in shares of Goldman Sachs Group was cutting more than 30......(read more)

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