NEW YORK: US bank stocks are morphing from leaders into losers amid more signs that their searing 35% rally through this year’s first five months may have outrun the fundamentals.
With two weeks left in the quarter, some investors aren’t waiting around to find out. The S&P 500 Banks Index, which rose three times more than the broad market through May, slid 8.1% last week and more than 10% so far this month.
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