Updated with market close information.
NEW YORK (
(MS - Get Report)
ended up the loser among the largest U.S. banks on Monday, with shares sliding over 6% to close at $15.38.
Investors were looking for more details on the plan agreed to on Friday by all 27 European Union members, except Britain, for tighter budget rules, to limit the risk of future debt crises. British Prime Minister David Cameron vetoed a new European treaty on Friday, after failing to get concessions from other members, including safeguards for Britain's financial services sector. Cameron in a statement to Parliament said he was forced to reject the new treaty, after other EU members rejected "modest" safeguards for Britain's financial services industry.
KBW Bank Index
ended the day down 2.5%, closing at 38.17, with all 24 index components showing declines, except for the strongly capitalized
People's United Financial
(PBCT - Get Report)
, which was up 1% to $12.59.
People's United has a dividend yield of 5.08%, based on a quarterly payout of 16 cents a share.
(C - Get Report)
declined over 5% to close at $27.22.
Bank of America
(BAC - Get Report)
was down nearly 5%, closing at $5.45.
Large U.S. banks seeing 3% declines included
(GS - Get Report)
, which closed at $98.11;
Bank of New York Mellon
, at $19.1;
, at $25.8;
(JPM - Get Report)
, at $32.06; and
(RF - Get Report)
, closing at $4.00.
Written by Philip van Doorn in Jupiter, Fla.
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Philip van Doorn
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