Wells Fargo's Hateful 8: Shares Are Down 8 Sessions In A Row, Worst Streak In 8 Years

Wells Fargo & Co WFC's stock has lost more than 13 percent since the start of 2016 and nearly 18 percent over the past year. The stock's performance is underperforming some of its peers and also the commonly benchmarked financial index ETF, the Financial Select Sector SPDR Fund XLF, which has lost 4.50 percent since the start of 2016 and 9 percent over the past year.

While Wells Fargo stock has been poor over the past year, it has been particularly weak over the past two trading weeks. Shares of Wells Fargo hit a four-month low on Thursday and is on track for its longest losing streak since before the Great Recession.

According to Market Watch, the selloff in Wells Fargo's stock is attributed to the yield on the 10-year Treasury note recently hitting a 3.5-year low. Lower long-term interest rates narrows the gap between what banks earn by financing longer-term loans with their shorter-term liabilities.

Wells Fargo stock has fallen for eight straight trading sessions, matching a similar eight-day losing period that ended on October 19, 2007.

Wells Fargo's stock was trading lower by around 0.11 percent ahead of Friday's market open at $46.80. The Financial ETF was also trading lower by 0.53 percent — likely implying a weak trading session ahead.