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Midday Monday: Stocks slide to start week

U.S. bank and thrift stocks, along with the broader markets, had pared their morning losses around midday Monday, March 27, after Republicans' failed healthcare bill raised doubts about the prospects for potential tax reform.

The SNL U.S. Bank Index decreased 0.85% to 523.64, while the SNL U.S. Thrift Index was down 0.65% to 901.04. The Dow Jones Industrial Average lost 0.27% to 20,541.00, the Nasdaq composite index declined 0.04% to 5,826.53, and the S&P 500 slid 0.23% to 2,338.62.

The nation's biggest banks were mixed around midday. JPMorgan Chase & Co. slipped 0.13% to $87.18, Bank of America Corp. retreated 0.87% to $22.92, Wells Fargo & Co. fell 0.57% to $55.51, and Citigroup Inc. was up 0.26% to $58.22.

Among other price movers, TCF Financial Corp. decreased 1.38% to $15.73, Comerica Inc. edged 1.50% lower to $66.22, and PNC Financial Services Group Inc. declined 1.51% to $117.60.

In the thrift space, BofI Holding Inc. declined 1.24% to $27.13, and New York Community Bancorp Inc. gained 0.50% to $13.97.

Market prices and index values are current as of the time of publication and are subject to change.