Financial Winners and Losers: Wells Fargo

Updated from 2:30 p.m. ET

Financial stocks were taking a hefty beating Thursday, as uncertainty about the efficacy of the government's financial bailout plan persisted, and investors awaited action from Congress on an $789.5 billion economic stimulus package.

The KBW Bank Index was tanking 2.8% to 27.57, and the Financial Select Sector SPDR (XLF Quote) ETF was down 6.1% at $8.75.

On Tuesday, Treasury Secretary Timothy Geithner unveiled a new version of the bailout package. The multifaceted approach was met with skepticism on Wall Street, and the major indices sold off following the announcement. ...