The S&P Financial sector tumbled on Friday, following a trio of major bank earnings that showed some signs of weakness. The sector fell 1.2%, by far the biggest percentage decliner of the 11 primary S&P 500 sectors. The declines came as bank earnings started the second-quarter reporting season on something of a sour note. JPMorgan Chase & Co. JPM, -0.46% fell 1.4% after it reported results that came in above expectations, though its consumer and community banking division was a weak spot. Citigroup Inc. C, -2.20% lost 2.9% after its revenue missed forecasts. Wells Fargo & Co. WFC, -1.20% sank 4% as both earnings and revenue failed to match consensus analyst expectations. Of the 69 components of the sector, 67 were in negative territory in morning trading. The financial sector is down 4.4% thus far this year, underperforming the broader market by a wide margin. The Dow Jones Industrial Average DJIA, +0.38% fell 0.1% on Friday while the S&P 500 SPX, +0.11% lost 0.2%, as did the Nasdaq Composite Index COMP, +0.03%
