Markets were relying on strong reporting from big banks,...

Markets were relying on strong reporting from big banks, starting this morning, to indicate strong profits to wash away interest rate concerns.

However guidance from JPMorgan, Wells Fargo and Citigroup disappointed, with JPMorgan (a DOW component) down 3.5% premarket.

Higher for longer interest rate concerns weigh on bank stocks … future earnings being repriced.

Above from a couple of articles in WSJ and Marketwatch.com.

Dex