Barclays: Financial Winners & Losers

Financial stocks fell Wednesday as part of a broad market sell-off fueled by renewed concerns about the economic recovery.
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NEW YORK (

TheStreet

) -- Financial stocks were mostly lower Wednesday after new economic data stoked fears that the economy will slow signifcantly.

The Commerce Department reported that the U.S. trade deficit widened 18.8%, to $50 billion, and sent the

Dow Jones

(DOW) - Get Report

falling over 200 points or 2%. The

NASDAQ

(IXIC)

shed 67 points and the

S&P 500

(INX)

also dropped alsmost 30 points by midday.

Financial Select Sector SPDR

(XLF) - Get Report

, a widely-followed exchange traded fund that tracks financial services companies, was down 45 cents to $14.28.

Insurers and European banks were the biggest losers of the day.

Lloyds

(LYG) - Get Report

shares were off by 8% at $4.34 and

Barclays

(BCS) - Get Report

lost almost 9%, trading down at $19.34, after announcing there would be layoffs in its investment bank subsidiary.

Banco Santander

(STD)

shares also slipped over 7% to $12.48.

Insurer

Hartford Financial Services

(HIG) - Get Report

led the declines in the insurance industry with shares dropping 6% to $21.20.

Ambac Financial 's

(ABK)

stock continued its downward trend, with shares trading down 4% to 66 cents each.

Regional banks also suffered some losses.

Susquehanna Bancshares

(SUSQ)

lost 8.41%, with shares trading down to $8.11.

Fifth Third Bancorp

(FITB) - Get Report

shares dropped 53 cents to $12.47, and

State Street

lost almost 5% to $37.30.

Financial winners included

Northern Trust

(NTRS) - Get Report

, which was up 1% to $49.67.

Heritage Financial

(HBOS)

also gained 20 cents to $11.90 after reporting second-quarter earnings leapt 93% to $297,000, or 3 cents a share.

--

Written by Maria Woehr in New York

.