The Fed support of the JPMorgan takeover of Bear Stearns boosted financial stocks. It assuaged worries of liquidity in the bond market. As a result, RJF's stock price has seen a 10% gain and a stabilization from the two month downtrend.
Heavy declines across the S&P and recession worries led to double digit declines in RJF stock. Worries are that a recession would lead to asset flight as well as lower revenues for the company.