{
  "id": 15025555,
  "title": "Big US bank stocks head for longest weekly losing streak since 2008",
  "url": "https://urgent.news/2026/10/16/big-us-bank-stocks-head-for-longest-weekly-losing-streak-since-2008",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-16T18:54:46.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/us-stocks/wall-street-guide/big-us-bank-stocks-head-for-longest-weekly-losing-streak-since-2008/articleshow/135002546.cms"
  },
  "original_language": "en",
  "account": "Shares of major US banks are set to endure their longest weekly decline since the 2008 financial crisis, according to Bloomberg News. The KBW Bank Index, which comprises 24 major banks, plummeted by approximately 1.3% during the week, continuing a downward trajectory from its August peak. The index has now lost around 13% of its value since August, setting the stage for a sixth consecutive weekly loss, the longest such streak since the 2008 crisis.\n\nMarket sentiment towards the beleaguered sector has been dampened by mixed quarterly earnings, which have failed to alleviate concerns. The recent drop has been exacerbated by worries about the potential impact of artificial intelligence on financial services, as well as a hotter-than-anticipated inflation reading, which has raised uncertainty about the Federal Reserve's stance on monetary policy.\n\nLarge banks face several challenges, including the prospect of elevated interest rates for an extended period, which could slow economic growth and lead to higher loan losses. Third-quarter results did little to reverse the downward trend, as disappointing fixed-income trading offset gains in equities. Rising funding costs for AI companies have created further uncertainty about the sustainability of capital-markets revenue linked to infrastructure investment and the potential threat posed by agentic AI to the stable, low-cost deposits that underpin bank profitability.\n\nThe KBW Bank Index has underperformed the S&P 500 in 18 out of the past 21 trading sessions since the Federal Reserve's September interest-rate hike, as reported by Barclays analyst Jason Goldberg. No comparable 21-session stretch has occurred since the index was established in May 1992.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Bloomberg",
        "title": "Big US Bank Shares Set for Worst Weekly Losing Streak Since 2008",
        "url": "https://urgent.news/2026/10/16/big-us-bank-shares-set-for-worst-weekly-losing-streak-since-2008",
        "published": "2026-10-16T17:13:29.000Z"
      },
      {
        "outlet": "Quartz",
        "title": "Big U.S. bank stocks are on pace for longest weekly losing streak since 2008",
        "url": "https://urgent.news/2026/10/16/big-u-s-bank-stocks-are-on-pace-for-longest-weekly-losing-streak",
        "published": "2026-10-16T17:50:18.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}