Financials limp out of the gate, with weak jobs data piling on already bad news: a federal...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Financials limp out of the gate, with weak jobs data piling on already bad news: a federal agency is set to sue big banks over misrepresenting the quality of mortgage securities, and the Fed asks BofA (BAC -7.7%) to show contingencies if conditions get worse for the bank. JPM -4.1%, C -5.6%. Financials SPDR (XLF -3%) has dropped more than 14% in three months.