Financial Stocks Continue Sliding: BofA Down 13%, Citi Down 20% (BAC, C, GS, MS, more)

Financial stocks are plummeting today as the broader markets are once again beginning to show signs of weakness. Since November 20, when the Dow hit a multi-year low under 8,000, the index has risen as much as 20% from the lows, but has not been able to break through the 9,000 level. Now well off this level, today's slide may be an indication that investors are getting nervous about the financial outlook of the US. Traders may also be feeling squeamish today as President-elect Obama has asked President Bush to request the remainder of the TARP funds on his behalf as the need for the money is "imminent and urgent."

Around the financial sector:

• Bank of America (NYSE: BAC) down 12.7% to $11.34
  
• Citigroup (NYSE: C) down 19.5% to $5.45
  
• Goldman Sachs (NYSE: GS) down 8.6% to $76.78
  
• Morgan Stanley (NYSE: MS) down 4.4% to $18.22
  
• JPMorgan (NYSE: JPM) down 5% to $24.66
  
• Wells-Fargo (NYSE: WFC) down 5.8% to $23.68
  
• Bank of New York Mellon (NYSE: BK) down 3.2% to $24.77
  
• State Street (NYSE: STT) down 6.4% to $38.90

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