The Motley Fool Previous Page

Why Bank of America Is Down So Big This Week

John Grgurich
April 5, 2013

The big banks took a pounding this week, and Bank of America (NYSE: BAC) was no exception: down 2.30% on the week. With no breaking bad news for B of A, what's to explain the superbank's severe downturn?

The tale of the tickers
Before we dig into that, here's a quick overview of how B of A's peers and the markets performed this week:

  • Citigroup (NYSE: C) was down a massive 3.94%.
  • JPMorgan Chase (NYSE: JPM) was down a much less massive, but significant, 0.82%.
  • Wells Fargo (NYSE: WFC) held up the best by far of the big four, down just 0.62%.

The markets were all in the red, as well; with the Dow Jones Industrial Average down 0.51%, the S&P 500 down 1.37%, and the Nasdaq the worst performer by far, down 2.36%.

Foolish bottom line
A 2.30% share-price drop is nothing to sneeze at. Usually, it takes some big piece of bad news to move a single stock by that much. But again, there just wasn't much cracking on the B of A home front this week.

Foolish colleague John M