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Updated from 12:51 p.m. ET
Financial stocks were falling sharply Tuesday, after Treasury Secretary Timothy Geithner detailed new government initiatives to help the sector.
The KBW Bank Index was declining 13.9% to 26.74, and the Financial Select Sector SPDR (XLF Quote) exchange-traded fund was dropping 10.2% to $8.89.
In a speech in Washington, D.C., Geithner said the Treasury will establish a Financial Stability Trust that would issue a "stress test" for major banks to evaluate potential future losses. Banks with more than $100 billion in assets will be subject to federal supervision and a stress test. ...
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