financial stocks traded broadly lower tuesday as longerterm treasury yields continued to fall amid growing concerns that a recession was on the horizon lower longerterm yields can weigh on banking profits as they narrow the spread between what banks earn on longerterm assets such as loans that are funded by shorterterm liabilities the spdr financial select sector etf xlf slid 15 in afternoon trading with 56 of 66 equity components losing ground to outpace the sp 500s spx 09 decline among the etfs moreactive components shares of bank of america corp bac declined 24 citigroup inc c shed 17 wells fargo  co wfc dropped 09 and jpmorgan chase  co jpm gave up 15 the mostactive of the gainers was synchrony financials stock syf  which gained 06 meanwhile the yield on the 10year treasury note tmubmusd10y fell 87 basis points 0087 percentage points to 2802 and have lost 404 basis points amid a fourday losing streak the yield briefly fell below the 2year treasury yield tmubmusd02y  something known as a yieldcurve inversion which often foretells an economic recession