Financials lead markets lower as rates slide

• The XLF, KRE, and KBE are all down about 1.5%, more than tripling the S&P 500's modest decline today.
• A ratcheting up in North Korea tensions and a Category 5 hurricane taking aim at Florida are teaming up as excuses to sell. Financials in particular are eyeing a tumble in interest rates - the 10-year yield down a full eight basis points to 2.087%. On the short-end, traders have shaved to zero the odds of a rate hike this month, and are pricing in just a one-in-three chance of another move at any point this year.
• Bank of America (BAC -2.5%), Goldman Sachs (GS -3.2%), JPMorgan (JPM -2.2%), Regions Financial (RF -2.5%), KeyCorp (KEY -2%), SunTrust (STI -1.9%), Schwab (SCHW -1.9%)
• ETFs: XLF, FAS, FAZ, VFH, UYG, IYF, FNCL, BTO, IYG, FXO, SEF, RYF, FINU, XLFS, FINZ, RWW, FAZZ, JHMF, FNCF