PRU - Citigroup Bank of America among financial stocks sliding amid Ukraine invasion

Citigroup (C -5.1%) and Bank of America (BAC -3.9%) are falling the most of U.S.-based megabanks in midafternoon trading on Thursday in the wake of Russia's invasion of Ukraine. Investors are flocking to government bonds, with the 10-year Treasury yield falling 6 basis points to 1.93% after having touched just under 2.0% late Wednesday night. The 2-year Treasury yield slid almost 10 bps to 1.51%. The lower bond yields are hurting banks and big insurance companies. European banks are getting hit harder — Deutsche Bank (DB -11.9%), Lloyds Banking Group (LYG -12.3%), ING Groep (ING -9.0%), Barclays (BCS -8.2%), and Banco Santander (BCS -8.2%). American International Group (AIG -3.4%), Aegon (AEG -6.2%),  Hartford Financial Services (HIG -4.4%), Lincoln National (LNC -3.6%), and Prudential Financial (PRU -3.3%) are falling the most among insurers. Also see, Sberbank of Russia ADRs plummet after U.S. imposes sanctions

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Citigroup, Bank of America among financial stocks sliding amid Ukraine invasion