Financials and Hoenig

I think the Fed's Hoenig, didn't help financials with the following comments

• HOENIG SAYS BIG FINANCIAL FIRMS PUT `CAPITALISM AT RISK'
• HOENIG SAYS POLICY MAKERS SHOULD `GO BEYOND' DODD-FRANK ACT
• HOENIG: SEPARATING PRIMARY DEALERS, BANKS WOULDN'T IMPEDE FED

Remember, this is a 1 min chart, mostly intraday action and in line with the broader market.