Stock Market Today, Oct. 14: Bank of America Shares Fall 5% on Earnings Miss and Compliance Penalty
Bank of America (NYSE:BAC), a global consumer, commercial, and investment banking franchise, closed at $51.39, down 4.76%. Premarket earnings missed estimates, and investors are watching trading revenue, compliance costs, and loan growth next. Trading volume reached 115.1M shares, coming in about 226% above its three-month average of 35.3M shares.
S&P 500 (SNPINDEX:^GSPC) closed at 7,721, down 1.08%, and Nasdaq Composite (NASDAQINDEX:^IXIC) closed at 26,693, down 1.88%. Among diversified banks and financial services peers, JPMorgan Chase (NYSE:JPM) closed at $335.28, up 1.16%, while Wells Fargo (NYSE:WFC) closed at $80.91, up 0.20%, highlighting a mixed day for large-bank shares.
Bank of America briefly suffered its biggest single-day drop since April 2025 after missing Q3 earnings and being hit with a $1.2 billion fine from the U.S. Treasury Department yesterday for violating anti-money-laundering and sanctions laws.
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