NEW YORK ( TheStreet) -- Major U.S. banks led the market lower on Monday, which was the seventh day of the partial shutdown of the federal government. The broad indices all saw declines of nearly 1%, but the KBW Bank Index ( I:BKX) saw a much larger decline of 1.7% to 61.93, with all 24 index components down for the session. Big banks seeing shares decline nearly 2% included Bank of America, which closed at $13.81; Citigroup, at $48.19 and Capital One, which closed at $69.93. Please see TheStreet's Big 4 Bank Earnings Preview for more on the rough third-quarter earnings season ahead for Bank of America, Citigroup, JPMorgan Chase ( JPM) and Wells Fargo ( WFC). The major story this earnings season will be the decline in mortgage lending revenue, as rising long-term interest rates have slowed refinancing applications from their elevated pace. Atlantic Equities analyst Richard Staite on Sept. 23 estimated that the eight large-cap U.S. banks he covers, including the "big four" would see a combined 45% sequential and 55% year-over-year drop in mortgage revenue. Staite also expects the group to see a 20% year-over-year decline in trading revenue. Please see TheStreet's earnings preview for credit card lenders for plenty of detail on what to expect from Capital One and its major competitors.