JPMorgan Chase (JPM) was one of the few bright spots after a report that it was breaking up a hedge fund unit. Read more here.

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BofA's decline can be explained by a research note from Rochdale Securities analyst Dick Bove, who cut his 2009 and 2010 estimates for the bank to reflect the company's ongoing capital raising. Bove reduced his 2009 estimate to 71 cents a share from 74 cents, and he lowered the 2010 estimate to $1.38 a share from $1.79. Bove did, however, raise his 2011 estimate for BofA to $3.16 a share from $3.10. Read more here.

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BB&T (BBT) was another winner after shares were upgraded at Keefe Bruyette & Woods to market perform from underperform after the bank's capital raise and dividend cut. Read more here.

Barclays (BCS) was among the worst financial performers, losing ... after a Financial Times report that said Temasek Holdings sold its entire stake of nearly 2% in Barclays at the beginning of 2009 at a significant loss. The report comes a day after word an Abu Dhabi investor sold 1.3 billion shares of the bank. Read more here.

Sallie Mae (SLM) shares were also sliding after CEO Albert Lord told a conference Wednesday that while loan losses are expected to peak in 2009, charge-offs are likely to stay high. Read more here.

American International Group (AIG) lost ground after the troubled insurer said it has agreed to sell two buildings in New York City, including its headquarters. The price and buyer of the buildings were not disclosed. Read more here.