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Wednesday's Bank Stocks: Markets dip following tax bill

Banks closed slightly lower than the broader market Dec. 20, when the final tax bill passed the U.S. Senate and House to head for President Donald Trump's desk. And with the U.S. Treasury Department set to run out of money by Dec. 22, Congress is preparing another stop-gap spending measure that would postpone action on contentious issues until after the holiday break.

The SNL U.S. Bank Index retreated 0.21% to 618.54, while the SNL U.S. Thrift Index lost 0.25% to finish at 949.55.

The largest banks were mixed. Citigroup Inc. was down 0.05% to $74.66, Wells Fargo & Co. lost 0.36% to close at $60.14, Bank of America Corp. gained 0.10% to $29.48 and JPMorgan Chase & Co. was off 0.35% to close at $106.14.

In the meantime, the S&P 500 slid 0.08% to 2,679.25, the Dow Jones Industrial Average shed 0.11% to end at 24,726.65 and the Nasdaq Composite Index dipped 0.04% to finish the day at 6,960.96.

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