"Everybody has to remember that this market is still subject to headline risk, " said Ryan Larson, head of U.S. equity trading at RBC Global Asset Management.

WSJ: Stocks Off Highs After Report on EU Ratings

"The broader market can only ignore the major, money-center banks trading down three, four and five percent for so long before it becomes a factor, " said Ryan Larson, head of U.S. equity trading at RBC Global Asset Management.

WSJ: Stocks End on a Low Note

Ryan Larson, head of equity trading at RBC Global Asset Management in Chicago, said the recent aggressive action by central banks around the world has been a big part of the reason why stocks have fared so well in the U.S., Asia and Europe so far this year.

WSJ: Dow Caps First 15000 Finish