Bank stocks, including JPMorgan Chase and Goldman Sachs, dropped despite strong third-quarter earnings reports. The KBW Bank Index fell 0.7%, while the S&P 500 declined 1.1%. JPMorgan’s shares were down 3.8%, and Goldman’s fell 5.3%. Both companies exceeded earnings expectations due to increased investment banking activity. JPMorgan was facing its biggest percentage drop since Apr. 4, and Goldman since Apr. 10.

Read more at Dow Jones & Company: Results Were Strong. Bank Stocks Are Still Getting Hit Hard.