Here's Why Wells Fargo, Bank of America, and Citigroup are Falling Today
The stock market experienced one of its worst plunges in recent history on Wednesday, wiping out Tuesday's rebound and then some. As of 3 p.m. EDT, the Dow Jones Industrial Average and S&P 500 index were lower by 6.3% and 5.6%, respectively.
Bank stocks were no exception to the sell-off. Big banks were down across the board -- just to name a few, Wells Fargo (NYSE: WFC) was lower by 8.6%, Bank of America (NYSE: BAC) had lost 5.5% of its share price, and Citigroup (NYSE: C) was the biggest loser of the three, down by nearly 10%.
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Source Fool.com