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0.00118469344408058 0.00276780272347568 0.00487861509600236 0.00619787282883167 0.0075171305616608 0.00659365014868026 0.00158047076392936 0.00207915018693885
Stock impact report

US bank stocks sink as Trump's tariffs cloud dealmaking, loan demand [Yahoo! Finance]

Bank of America Corporation (BAC) 
Last bank of america corporation earnings: 4/15 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.bankofamerica.com
Company Research Source: Yahoo! Finance
Citigroup fell 11%, while Bank of America, Morgan Stanley, Goldman Sachs and Wells Fargo slipped 9% each. JPMorgan Chase, the biggest U.S. bank, dropped 7%. The moves mark a sharp reversal of fortunes for the banking industry which until months ago was projecting a bright outlook for 2025 on hopes of M&A deregulation and lower corporate taxes. But uncertainty fueled by Trump's 10% baseline tariff on all imports crushed the economy-sensitive bank stocks, while raising fears of a global trade war as some countries vowed to retaliate. "Uncertainty around the indirect impact of broad-based tariff increases on the economy and activity levels are likely to dominate bank stocks in the near term," said Jim Mitchell, senior analyst at Seaport Research Partners. With companies holding off acquisitions amid tariff uncertainty, investment banking income is likely to remain under pressure. Analysts warned that weakening consumer confidence could dampen spending and curb loan demand. Reg Show less Read more
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