Here’s Why Regional Bank Stocks Are Crashing Now

Quick answer: Citigroup (NYSE:C) slashed price targets on stocks of local lenders citing “earnings pressure from continued low interest rates.” Regional bank stocks are getting hammered this morning as a result, lagging on the larger markets’ performance. Here’s a look at how stocks in the sector are performing so far today, not pretty:

Comerica Inc. (NYSE:CMA), down 3.19%, Regions Financial (NYSE:RF) down 2.78%, KeyCorp (NYSE:KEY) off 2.37%, Fifth Third Bancorp (NASDAQ:FITB) down 1.55%, PNC Financial (NYSE:PNC) off 1.74%, M&T Bank Corp. (NYSE:MTB) down 1.7%, and Huntington Bancshares Inc. (NASDAQ:HBAN) also down 1.89%.