NEW YORK (

TheStreet

)-- The market declined Tuesday,

pressured by weakness across energy and basic materials.

The

Financial Select Sector SPDR Fund

(XLF) - Get Financial Select Sector SPDR Fund Report

, an ETF dedicated to the financial sector, moved into lower territory trading down 28 cents to $14.72.

Ironically, one of the big financial winners of the day is

Bank of Ireland

(IRE)

. The stock was up 13 cents to $2.33 on news that The European Central Bank would support an Irish request for financial assistance.

Overall, financial stocks slummped. Several banks' stock slipped after a

report

by the Congressional Oversight Panel estimated buyback-loss estimates from the foreclosure fiasco caused by "robosigning" could total $52 billion.

Bank of America

(BAC) - Get Bank of America Corp Report

shares fell 23 cents at $11.87.

JP Morgan

(JPM) - Get JPMorgan Chase & Co. (JPM) Report

shares fell 77 cents to $39.30.

TheStreet Recommends

Citigroup

(C) - Get Citigroup Inc. Report

shares slid 11 cents to $4.22.

Wells Fargo

(WFC) - Get Wells Fargo & Company Report

shares fell 60 cents to $27.08.

Another big loser of the day was

Regions Financial

(RF) - Get Regions Financial Corporation Report

. Shares sunk by 50 cents to $5.70 on news that

three risk managers are leaving the bank

.

--Written by Maria Woehr in New York.

To contact the writer of this article, click here:

Maria Woehr

.

To follow the writer on Twitter, go to

http://twitter.com/newsgirlmw

.

To submit a news tip, send an email to:

tips@thestreet.com

.