Financial Select Sector SPDR Fund (NYSEArca: XLF) fell 8% on Monday. Bank of America accounts for 5.5% of the ETF.
The financial ETF was forecasting weakness in June along with B. of A. shares when a technical indicator known as a “death cross” was triggered. [Bank of America Caught in Downtrend; Financial ETF Sees ‘Death Cross’]
Financial Select Sector SPDR Fund
BAC chart source: StockCharts.com.