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Bank stocks take a broad beating as Treasury yields fall in wake of Fed taper talk

Bank stocks take a broad beating as Treasury yields fall in wake of Fed taper talk

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Financial stocks were suffering a broad beating Thursday, as Treasury yields sank in the wake of the Federal Reserve’s detailing of its widely expected tapering plans, and as the Bank of England held off on an expected rate hike. The SPDR Financial Select Sector ETF XLF, -2.01% dropped 2.0% with 61 of 65 equity components losing ground.

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