Bank stocks dive after the Fed slashes rates to curb coronavirus impact, JPMorgan off by nearly 4%

Bank stocks dive after the Fed slashes rates to curb coronavirus impact, JPMorgan off by nearly 4%

People inside the offices of JP Morgan Chase in New York City.

Getty Images

Bank stocks sold off in unison on Tuesday following the Federal Reserve’s emergency rate cut to combat an economic slowdown triggered by the fast-spreading coronavirus. The weakness by the group kept the overall markets’ gains in check.

Shares of JPMorgan and Bank of America dropped 4% and 5%, respectively, while

View On WordPress