Shares of major US banks headed for their longest weekly losing streak since the 2008 global financial crisis after mixed quarterly earnings failed to improve sentiment toward the struggling sector, Bloomberg News reported.
The 24-member KBW Bank Index fell about 1.3% during the week and remained in correction territory, having declined roughly 13% from its August record. Although the group had suffered steeper selloffs—including a nearly 17% decline earlier in the year—it was on course for a sixth consecutive weekly loss, its longest such run since 2008.
