Bank of America is getting whacked

Stocks are taking a dive.

The Dow and S&P have gone a record 109 days without a 1%+ decline but today that might come to an end. At 1:04PM EST the Dow and S&P were down .80% and .87%.

Volatility is also popping. The Chicago Board Options Exchange volatility index, which gauges investor anxiety (technically, implied expectations for volatility in the stock market) and is widely known as the VIX index, has been trending down for a while.

However, the CBOE Volatility index was up 9.79% at 1:04PM EST.

Financials are the big losers today. At 1:04PM EST, the XLF financials ETF was down 2.46%.

The big banks are getting hit particularly hard:

• Bank America was down 5.44%
• JPMorgan was down 2.4%
• Citigroup was down almost 2%

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