Bank stocks fell 2.7% on September 22, led by Ameriprise and Raymond James

The S&P 500 bank index fell 2.7% on September 22, Reuters reported, with Ameriprise down 4.4% and Raymond James off more than 3%. Reuters also reported financials dropped 1.68%, leading six declining S&P sectors. For savers and borrowers, bank weakness can mean tighter lending even if deposit rates lag.