Here’s Why Citigroup and These 6 Stocks are Dragging the Financial Sector Lower

Financials (NYSEARCA:XLF) take a plunge in early trading following yesterday’s 1.2% gain. Investors turn their backs on the surprisingly good U.S. jobless claims report to focus on the most recent misfortune in Europe.

As others avoid the eurozone, JPMorgan (NYSE:JPM) increases its lending to the area to $15.9B on Nov. 17 from $14B at June 30. Yesterday, CEO Dimon said the bank’s long and short exposure is “huge,” estimating “$100B by $100B.”

Here’s how big banks are trading now:

Citigroup, Inc. (NYSE:C): C shares recently traded at $28.26, down $1.57, or 5.26%. They have traded in a 52-week range of $21.40 to $51.50. Volume today was 27,060,322 shares versus a 3-month average volume of 57,586,500 shares. The company’s trailing P/E is 7.53, while trailing earnings are $3.75 per share. Get the most recent company news and stock data here >>

Bank of America Corporation (NYSE:BAC): BAC shares recently traded at $5.74, down $0.15, or 2.55%. They have traded in a 52-week range of $5.03 to $15.31. Volume today was 112,871,770 shares versus a 3-month average volume of 271,017,000 shares. The company’s trailing earnings are $-0.31 per share. Get the most recent company news and stock data here >>

JPMorgan Chase & Co. (NYSE:JPM): JPM shares recently traded at $32.84, down $1.16, or 3.41%. They have traded in a 52-week range of $27.85 to $48.36. Volume today was 15,087,148 shares versus a 3-month average volume of 47,206,100 shares. The company’s trailing P/E is 7.00, while trailing earnings are $4.69 per share. Get the most recent company news and stock data here >>

The Goldman Sachs Group, Inc. (NYSE:GS): GS shares recently traded at $101.20, down $3.93, or 3.74%. They have traded in a 52-week range of $84.27 to $175.34. Volume today was 3,699,781 shares versus a 3-month average volume of 7,978,750 shares. The company’s trailing P/E is 15.39, while trailing earnings are $6.57 per share. Get the most recent company news and stock data here >>

Morgan Stanley (NYSE:MS): MS shares recently traded at $16.36, down $0.98, or 5.65%. They have traded in a 52-week range of $11.58 to $31.04. Volume today was 16,694,527 shares versus a 3-month average volume of 37,019,700 shares. The company’s trailing P/E is 10.73, while trailing earnings are $1.53 per share. Get the most recent company news and stock data here >>

American Express Company (NYSE:AXP): AXP shares recently traded at $48.34, down $0.82, or 1.67%. They have traded in a 52-week range of $41.25 to $53.80. Volume today was 1,583,857 shares versus a 3-month average volume of 8,412,850 shares. The company’s trailing P/E is 12.12, while trailing earnings are $3.99 per share. Get the most recent company news and stock data here >>

Wells Fargo & Company (NYSE:WFC): WFC shares recently traded at $26.58, down $0.47, or 1.74%. They have traded in a 52-week range of $22.58 to $34.25. Volume today was 7,453,502 shares versus a 3-month average volume of 40,420,300 shares. The company’s trailing P/E is 9.84, while trailing earnings are $2.70 per share. Get the most recent company news and stock data here >>

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