Bank Of America's Stock Tumbles On Heavy Volume Toward Biggest Selloff In 9 Months
Shares of Bank of America Corp. dropped $1.46, or 6%, to a 1 1/2-month low in active afternoon trade Tuesday, enough to make them the biggest percentage decliner within the S&P 500, amid a selloff in the financial sector and broader stock market as investors started resetting expectations for a boost from President Donald Trump's policies. Volume spiked to 180.4 million shares, nearly double the full-day average of 92.4 million shares, and enough to make the stock the most actively traded on the NYSE. The stock was on track to suffer the biggest one-day percentage decline since June 27, 2016, and the biggest one-day price drop since Aug. 8, 2011. The stock was underperforming the SPDR Financial Select Sector ETF , which shed 2.7%, and the S&P 500 , which slumped 1.1%.
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