Financials Selling-Off Hard Into the Close (XLF, AIG, WFC, BAC, GS)

Financials selling-off hard into the close: Financial Select Sector SPDR (NYSE: XLF) down 5.5%. High beta names like AIG (NYSE: AIG) getting crushed (-21%). Wells Fargo (NYSE: WFC) getting hit 6% on secondary rumors and Bank of America (NYSE: BAC) down 6.4% despite reports they will payback part of its TARP funds. Even Goldman Sachs (NYSE: GS) is down 3.3%.

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