Too Big To Fail Round-Up; More Carnage!

The carnage in the U.S. banking sector is continuing on Monday as traders have been dumping these names on fears about exposure to the European debt crisis. Currently, the Financial Select Sector SPDR ETF XLF is down 2.30% to $15.10. In a very bad market, financials are the worst performers. Here is a look at how the Too Big To Fail brigade is performing during Monday's trading session. J.P. Morgan JPM - The stock is down 2.85% to $39.58. The bank will be reporting its earnings on Thursday. Expect all of Wall Street to be on the conference call to hear what CEO Jamie Dimon has to say about the state of the U.S. banking sector. This report will be market moving and one of the most important of the Q2 earnings season. Citigroup C - Down 3.10% to $40.72. An analyst gave some bullish commentary on the stock last week - its not looking so good right now. Citi reports earnings on Friday. Traders will be extremely interested to hear what Vikram Pandit has to say about his floundering bank. Too Big To Fail CEOs have been consistently optimistic, but at this point, who believes them? Bank of America BAC - Shares have fallen 2.90% to $10.40. This has to be the worst bank stock ever. Bank of America is putting in a new 52-week low today at $10.36. Ouch. BAC shareholders have been decimated over the last 52-weeks, as the stock is down 31%. Wells Fargo WFC - Shares have lost 2.26% to $27.66. Relatively speaking, this is a quality banking stock. Warren Buffett is a major shareholder. Nevertheless, the stock has lost 11% in 2011.