>> A swift and decisive sell off on Wall Street Monday as investor's hopes wane for a raft of profit boosting goodies from the Trump administration. I'm Conway Gittens in New York. Nowhere is that dose of reality being felt more than in the banking sector. All of the financial shares are trading lower with Goldman Sachs the worst performing stock in the Dow.
The banking sector had been the best performing group since the election on the belief that Trump's policies were gonna lead to more lending and that in turn would lead to better profits for the sector. Also getting hit are shares of companies that seem poised to cash in on the President's big infrastructure spending plans.
Steel producers US Steel Corp and AK Steel posting big losses Monday, along with General Electric and Caterpillar. Shares of WageWorks, an employee healthcare benefits provider, slumping. The stock had surged 25% since election day as investors bet the company would see a cash windfall from whatever plan replaced Obamacare, but now those bets are off.
The stock having it's worst day in over a year.