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“European banks are suffering from a crisis of confidence,” Michael Block, chief strategist at Rhino Trading Partners, wrote in a client note. Banks also got crushed again, led by a 7% drops for Bank of America and Citigroup. The S 500′s financial sector is the worst performing group this year, down 17%..
And even a “Made in USA” label only provides a small amount of assurance for a socially conscious shopper. For instance, maybe the tailors who assembled the skirt may have had good working conditions. But the fabric might have been woven overseas by people who do not work in a safe environment..
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