Major US banks are experiencing their longest weekly losing streak since the 2008 financial crisis, driven by mixed quarterly earnings and rising inflation. The KBW Bank Index has fallen about 13% since its August peak, continuing a trend of losses. Concerns about artificial intelligence disrupting financial services contribute to the negative sentiment toward the sector. Analysts highlight challenges involving elevated interest rates potentially slowing economic growth.
US stocks: US market ends down sharply; worries about AI trade and high oil prices weigh
Wall Street faced a sharp decline on Friday as AI-related technology stocks came under renewed pressure. Concerns regarding debt-laden AI infrastructure companies affected investor sentiment
October 16, 2026