US banks tumble as weak economic data sparks recession fears

By Jerry  Published On August 5, 2024
 U.S. bank stocks slumped on Monday as fears of a recession sent investors fleeing from a sector closely tied to the health of the economy and toward safe-haven assets.
Citigroup (C.N), opens new tab led big bank losses with a near 5% fall. Wells Fargo (WFC.N), opens new tab, Morgan Stanley (MS.N), opens new tab and Goldman Sachs (GS.N), opens new tab fell about 4% each, while JPMorgan Chase (JPM.N), opens new tab and Bank of America (BAC.N), opens new tab declined 2.7% and 3.5%, respectively.
Source: REUTER

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