Bank of America Corp
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Financials : Banks | Large Cap Value
Company profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Price
Delayed
$19.77
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
--
Day's Low
--
Volume
(Light)

Today's volume of 748,122 shares is on pace to be much lighter than BAC's 10-day average volume of 121,756,197 shares.

748,122

UPDATE: European stocks record historic losses after Trump travel ban, Lagarde press conference

12:35 pm ET March 12, 2020 (MarketWatch)
Print

By Steve Goldstein, MarketWatch

European stocks suffered historic losses on Thursday after President Donald Trump announced a ban on travel to the Continent as European Central Bank President Christine Lagarde appeared to pass the buck on aiding the eurozone's economy.

The Stoxx Europe 600 dropped 11%, its worst-ever loss, with record declines for the German DAX and French CAC 40 as well. Deutsche Lufthansa (LHA.XE) lost 13% as Bernstein Research said the German airline, as well as Delta (DAL) and United (UAL), are most impacted by the travel ban.

Trump, in a televised address, announced a ban on travel to Europe for 30 days. It isn't iron clad -- U.K. and Irish travel is permitted, as is European travel for American citizens.

Other travel stocks including InterContinental Hotels (IHG.LN) also dropped.

The selling was not remotely limited to the travel sector, with the financial sector also getting pounded.

On the London Stock Exchange, there were 2,991 decliners to just 165 advancers.

"Markets reacted negatively to what was perceived as a solemn but confused speech that placed blame on other nations, omitted to focus on immediate actions to relieve the most affected individuals, and lacked in concrete fiscal and health measures to address the economic and financial impact of the virus," said Gregory Daco, chief U.S. economist at Oxford Economics.

Italy, meanwhile, has closed all shops outside of supermarkets and pharmacies. Italy's FTSE MIB fell about 15%, its worst ever loss, as Italian government bonds sold off.

The European Central Bank did not cut interest rates and said there were no "material signs of strains in the money markets or liquidity shortages." Lagarde also said it wasn't the ECB's job to narrow Italian bond spreads as she called on euro-area governments to increase fiscal stimulus.

"It seems the ECB is falling behind the curve," said Jon Day, fixed income portfolio manager at Newton Investment Management.

-Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

March 12, 2020 12:35 ET (16:35 GMT)

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