The broad indexes all pulled back as investors fretted over events in Europe, as Greece's conservative New Democracy party failed to form a new government after winning the most votes in Sunday's election. A failure to form a new government willing to cooperate with the austerity measures required under the European bailout deal increase the likelihood of Greece defaulting on its debt and exiting the euro.
The KBW Bank Index (I:BKX) declined 1% to close at 47.24, with 21 of the 24 index components showing declines.
Commerce Bancshares has seen its stock return 7% year-to-date, following a 3% return during 2011, which was rather solid performance considering that the KBW Bank Index dropped 25% last year.
Philip van Doorn. To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn.
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