Large US bank stocks are under historic pressure: The KBW Bank Index has dropped for 6 consecutive weeks, its longest streak since the 2008 Financial Crisis. This also marks its 3rd-longest streak this century. Over this span, the index has fallen -11%, to its lowest level since the first week of June. Bank of America, $BAC, State Street, $STT, and Citigroup, $C, were among the worst performers over this period, declining -18%, -14%, and -10%, respectively. This comes amid rising investor concerns over AI disrupting financial services and higher interest rate expectations. Furthermore, mixed Q3 2026 earnings results reported last week failed to ease the pressure. Large US bank stocks are having a terrible year.