March was a ferocious month for U.S. bank stocks, wiping out hundreds of billions in the grouping’s market value as several institutions failed and others faltered, though some experts say the most painful days for the bleeding sector have already come and gone.This month, bank stocks navigated the failures of Silicon Valley Bank and Signature Bank and severe struggles from other regional banks; financials were by far the S&P’s worst-performing sector in March, shedding 10.6% as of 10 a.m.
The market value of the 10 largest banks sank from $1.59 trillion on March 1 to $1.34 trillion on March 31, a stark 15% decline.
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