Of the at-risk assets, $1.6 billion is in bonds, $6.4 billion is tied to credit and financial institutions, and $3.9 billion from corporations. [Sector ETFs: Navigating the Stock Sell-Off.]
JP Morgan is the second largest bank in the U.S. and has about $14 billion tied to European nations under stress, with $3.6 billion alone tied to sovereign debts concentrated in Spain.
The largest U.S. bank, Bank of America, is exposed to Europe with $16.7 billion, with exposure to all five of the near-defaulted nations within the EU. A recent filing noted that B. of A. has purchased about $1.77 billion of credit-default protection as a hedge against potential losses. [Financial ETFs Slips 6% as Bank of America Pressured Again.]
Financial Select Sector SPDR Fund
Chart source: StockCharts.com.
Tisha Guerrero contributed to this article.