The Westpac Banking Corp (ASX: WBC) share price is down 2.2% versus a 1.6% decline for the S&P/ASX 200 Index (ASX: XJO) today.
Westpac shares are trading at $37.70 apiece at the time of writing.
So, why are Westpac shares underperforming today?
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Why is the Westpac share price in the red?
Firstly, all the major ASX 200 bank shares are underperforming today, and financials are the weakest of the 11 sectors, down 2.3%.
This follows three days of gains for the banks after the Reserve Bank lifted interest rates, and hopes grew of a US-Iran peace deal.
The Westpac share price rose 2.34% between Tuesday and Thursday.
That’s all changed today, with fresh clashes between the US and Iran overnight threatening to…
