Banking

Bank stocks tumble again

As concerns mount about the economy and rising loan losses, bank stocks are having another rough day today, but they have revived some this afternoon.

Among Charlotte's banks, Wachovia shares are down about 7 percent to $14.03, while Bank of America shares have fallen 1.5 percent to $31.89.

Harder hit are Washington Mutual Inc., down more than 8 percent to $2.12 and Lehman Brothers, down 34 percent to $4.74. Washington Mutual replaced its chief executive this week and Lehman Brothers faces ongoing concerns about its ability to raise capital.

Bank stocks are headed toward a third down day after surging Monday on news of the government takeover of mortgage giants Fannie Mae and Freddie Mac.

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