Dow, S&P set for first day of losses this year

The S&P 500 financial index was down 1.6 percent in early afternoon trading - set for its worst day since September - due to declines in JPMorgan , Wells Fargo and Bank of America . The index has risen 17.2 percent since Donald Trump's victory in the November election as investors bet on his proposals aimed at simplifying banking regulations. Goldman Sachs , which was the biggest driver for the Dow in the rally, was off 2.2 percent.