Bank of America shares were off 8%. The Federal Reserve has asked the financial-services giant to provide contingency plans if conditions worsen for the company, The Wall Street Journal reported. B. of A. accounts for 5.2% of the financial ETF.
The sector fund was down 17.5% year to date as of Sept. 1, compared with a 2.9% decline for the S&P 500, according to Morningstar.
Financial Select Sector SPDR Fund
