Why Shares of Wells Fargo Fell Today
On a rough day for the market in general, shares of Wells Fargo (NYSE: WFC) fell nearly 5% today for no obvious reason. The decline was more than the drop in the broader sector as the KBW Nasdaq Bank Index, which tracks large bank stocks, only fell about 3% today.
The bank sector came under pressure today as the yield on the 10-year U.S. Treasury bill fell ever so slightly, while the yield on the two-year U.S. Treasury bill rose slightly.
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Source Fool.com