Stock Market Financials Flounder Amid Gains In The Utility Sector

Financial and Materials sector, have today, continued to trade in the negative regime since the morning session began. Losses range from -2.5% to -1.5%. This is due to the fact that Citigroup Inc.
(Public, NYSE:C) and Bank of America Corporation
(Public, NYSE:BAC) reported unfavorable quarterly results. The stock holders have reacted angrily by off-loading most of their shares into the market, creating a near panic scenario. This is so far the biggest share drop since the beginning of October.

Utility and Consumer staples stocks have so far continued to hold against the widespread decline that has become characteristic of this morning trade. American Electric Power Company, Inc.
(Public, NYSE:AEP), The Southern Company
(Public, NYSE:SO)and Exelon Corporation
(Public, NYSE:EXC)are some of the stocks that have shown strong gains in recent trading sessions by moving into positive territory. Treasuries are being favored by those shareholders off-loading the financial.