Bank of America's stock drops toward 2 1/2-year low in active trade

Bank of America Corp.'s stock dropped 4.2% in active afternoon trade Monday, putting it on course to close at a 2 1/2-year, as a selloff in the broader stock market weighed heavily on financial stocks. The banking giant's stock was the day's most active, with about 159 million shares traded about 15 minutes before the close, compared with the full-day average of about 106.6 million shares, according to FactSet. The stock has plunged 23% so far this month, putting it on track to suffer the worst monthly performance since it plummeted 25% in September 2011. Meanwhile, the SPDR Financial ETF shed 2.2% in afternoon trade Monday, and the S&P 500 fell 1.5%. The XLF was down 13% year to date, while the S&P 500 is down 8.1%.

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