Shares of JPMorgan Chase ( JPM -3.98%), the largest bank in the U.S. by assets, traded nearly 5% lower as of 10:52 a.m. ET. Shares of Wells Fargo ( WFC -4.84%) traded 6.5% lower at that time, while shares of Citigroup ( C -6.25%) were down 7.5%.

Bank stocks struggled today as investors grew more concerned about the economy and the strength of consumers. Shares of JPMorgan Chase (NYSE: JPM), the largest bank in the U.S. by assets, fell 4.5%. Shares of investment banks and asset managers Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS) also fell 3.