Financials, Once a Balm, Now Hamper the Market
"As the air came out of the technology and telecommunications bubble this decade, the stock market found a new champion in the financial sector.
Now, as problems in the credit markets are cutting into profits at banks, brokerage firms and insurance companies, that growth engine is looking more like a millstone. Financial stocks are down 17.6 percent for the year, and many market specialists expect that they will remain under pressure in the coming year, making it harder for the broader market to regain its footing."
