Financial stocks took a broad beating Tuesday, as a drop in longer-term Treasury yields and a stock-market selloff weighed took its toll. The SPDR Financial Select Sector exchange-traded fund XLF, -1.95% dropped 2.4% in afternoon trade, with all 68 of its equity components contributing to losses. Among the most heavily weighed components, shares of Warren Buffett's Berkshire Hathaway Inc. BRK.B, -1.60% fell 2.3%, J.P. Morgan Chase & Co. JPM, -1.94% gave up 2.7% and Bank of America Corp. BAC, -3.02% dropped 3.7%. The biggest losers were shares of SVB Financial Group SIVB, -4.11% which slumped 4.8%, and KeyCorp.'s stock KEY, -3.31% which slid 4.2%. Falling longer-term Treasury yields--the 10-year yield was down 5.7 basis points toward a seven-week low of 2.786%--can hurt banks' profits is the spread made between rates tied to longer-term assets, like loans, and shorter-term liabilities narrow. In addition, the Dow Jones Industrial Average DJIA, -1.43% tumbled 382 points, or 1.2%, with 25 of 30 components losing ground.