Uh...this isn't political. We're hitting the financials with these rules. Being political would be saying that it's a bad thing. This will hit the certain bank profits, so they are among the sectors that took a negative hit yesterday. The little article summary says "pulling down bank stocks", so the blog entry's diversion into commodities is irrelevant.
I think the proposal helps explains the drop in GS. The Volcker rule is going to put a dent in GS proprietary trading desk activities. It might have even a bigger effect on BoA, as a large percentage of their profits were from trading...
For an even clearer demo of the proposal's effect on prices, look at this chart comparing three banks with huge trading operations and three more regional banks that won't be affected by the proposal.
http://www.google.com/finance?chdnp=1&chdd=1&chds=1&...
I think the proposal helps explains the drop in GS. The Volcker rule is going to put a dent in GS proprietary trading desk activities. It might have even a bigger effect on BoA, as a large percentage of their profits were from trading...
For an even clearer demo of the proposal's effect on prices, look at this chart comparing three banks with huge trading operations and three more regional banks that won't be affected by the proposal. http://www.google.com/finance?chdnp=1&chdd=1&chds=1&...