US BANK INDEX JUST DID SOMETHING FOR THE FIRST TIME SINCE 2008.

And it's a horrible sign for the markets.

KBW Nasdaq Bank Index closed this week in red, making the 6th consecutive red weekly candle.

Last time this happened was in June 2008, and here's what followed next.

-… pic.twitter.com/71WYWKrvpI

— The Macro Paper (@macropaperr) October 17, 2026