Bank of America shares hit new 52-week low

(Reuters) - Shares in the No. 2 U.S. bank were down 3 percent to $5.09 in afternoon trading after falling as low as $5.03 earlier in the session. The previous 52-week low was $5.12 on November 25.

Bank stocks were mixed in afternoon trading, with the KBW Bank Index down about 0.75 percent. Regions Financial Corp (RF.N) was off more than 6 percent, while Morgan Stanley (MS.N)fell more than 3 percent.

Bank of America, Morgan Stanley and Regions are among the banks perceived by investors to be riskier than others, said Jason Goldberg, an analyst with Barclays Capital.

"There are risk-on days and risk-off days, and today is a risk-off day," he said.