Why PNC Financial Stock Dropped 10.9% This Week

PNC Financial Services Group (NYSE: PNC) saw its stock price fall 10.9% this week as of Friday at 10:35 a.m. ET, according to S&P Global Market Intelligence. The stock was trading at about $116 per share as of Friday at 10:35 a.m. ET, down about 26% year to date (YTD).

The markets were all down this week, as the S 500 was off 1.2%, the Dow Jones Industrial Average fell 1.5%, and the Nasdaq Composite dropped 0.6% this week, as of Friday at 10:35 a.m. ET.

PNC Financial is the holding company for PNC Bank, the sixth-largest bank in the country, with about $562 billion in assets. It is considered a super-regional bank, with branches in 27 states, from California to Massachusetts.

Source Fool.com