Financial stocks took another downturn Friday to cap off a mostly bearish week for the sector, which saw a harrowing influx of poor financials.

Among the culprits today was Wachovia ( WB), which fell 2% after joining the parade of financial services firms whose earnings were rotted out by credit market disruptions. Its third-quarter profit slid 24.4% year over year to 90 cents a share, or $1.71 billion (excluding one-time items) amid a credit-loss provision of $408 million that more than doubled from last quarter.

Revenue rose 4.3% from last year to $7.35 billion. Analysts polled by Thomson Financial were looking for income of $1.03 a share on revenue of $8.02 billion. Shares of the Charlotte, N.C., bank were recently down 98 cents to $47.16.

Citigroup ( C), which reported an even worse earnings tumble earlier this week, lately lost another 1.1% to $43.34. The radiant pain was even sharper for Bank of America ( BAC) and Washington Mutual ( WM), each of which reported their own weak profits just yesterday. Shares were off 1.8% and 5.5%, respectively.

All of the above stocks helped to pressure both the NYSE Financial Sector Index, down 1.7%, and the KBW Bank Index, down 1.3%, along with a sinking Capital One ( COF).

The McLean, Va., credit card issuer, burdened by the high costs of shutting down its GreenPoint Mortgage business, swung to a third-quarter loss of $81.6 million, or 21 cents a share. The $883 million charges were slightly higher than expected due to the dwindling value of the business. On average, analysts were looking for a loss of 30 cents a share; last year, Capital One had a profit of $1.89 a share.

If you liked this article you might like

Lackluster Finish for U.S. Stocks

Lackluster Finish for U.S. Stocks

Stocks Continue to Waver at the Flat Line

Stocks Continue to Waver at the Flat Line

Oil Slides as Stocks Post a Mixed Showing

Oil Slides as Stocks Post a Mixed Showing

Stocks Flutter Near the Flat Line

Stocks Flutter Near the Flat Line

Wall Street Falls Amid Inflation Talk

Wall Street Falls Amid Inflation Talk