NEW YORK ( TheStreet) -- After a roaring start to the year, bank stocks are losing steam, underperforming the broader markets in the second quarter so far, despite a mostly positive earnings season.
The KBW Bank Index has slipped 2.9% since April 13, which marked the beginning of the bank earnings season, while the S&P 500 has lost about 1.5%.
Bank of America (BAC), which led the market rally in the first quarter has shed 17% in the past month alone. Citigroup (C), which also benefited from the "risk-on" rally in the early part of the year has shed about 10%.
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