Financial loser story updated with closing price information.
NEW YORK (
Bank of America
was the loser among the big banks on Monday, with shares dropping 8% to close at $6.42.
The broad indexes were all up, as investors reacted positively to the
Libyan rebels' success in Tripoli
. Investors are expecting some action from the Federal Reserve and are anticipating a speech on Friday by Fed chairman Ben Bernanke.
KBW Bank Index
bucked the overall market trend, declining over 1% to close at 35.09, with the 24 index components roughly split between gains and declines.
Major U.S. banking names seeing 3% declines included
, which closed at $26.06 and
, closing at $33.41.
First Niagara Financial Group
was down 2%, to close at $9.79.
saw its shares pull back 1.5%, closing at $23.00.
was Monday's winner among the large U.S. banks, with shares rising 2% to close at $3.93.
was up 1.5% to close at $17.08.
Written by Philip van Doorn in Jupiter, Fla.
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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.