Thirty financials hit 52-week lows

The stocks of 30 of the more than 80 financial companies in the S&P 500 hit 52-week lows on Thursday, as the markets took a beating. The biggest decliners were Prudential Financial Inc, which was down as much as 25.4%, to $20.14, and American Express Co., which fell as low as $16.55, a 16.6% fall from its $19.85 opening price.

The averages broke through their previous lows set in October and tumbled to fresh lows before rebounding slightly. The S&P and Nasdaq have not been at these levels since 2003. Each of the major indices is down more than -2.60%, with the Nasdaq down more than -3.25%. Declining stocks are ahead of advancing stocks by a 4:1 margin while the down volume is ahead of up volume by 9:1. The financials continue to get pummeled, down another -3.90%, led by Citigroup (C) and Bank of America (BAC).