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US bank stocks get hammered after UK vote shocker

Fred Imbert
Michael Nagle | Bloomberg | Getty Images. President Donald Trump sent a message that he was removing the black hats from the heads of Wall Street CEOs.

U.S. banks were clobbered Friday after the United Kingdom voted to leave the European Union in an unprecedented vote .

Shares of Goldman Sachs (GS) sank more than 7 percent, while Morgan Stanley (MS)'s stock dropped more than 10 percent. JPMorgan Chase (JPM) and Bank of America (BAC) were also hit by the U.K. vote, trading about 7 percent lower.

The SPDR S&P Bank ETF (KBE) (NYSE Arca: KBE) also fell about 7 percent.

That said, Christopher Semenuk, portfolio manager at TIAA Global Asset Management, isn't too negative about this reaction.

"Given the event, [this] isn't nightmarish," he told CNBC via telephone. "I think the reaction in banks around the world, not just the U.S., isn't too bad."



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