Reported 2 months ago
U.S. bank stocks experienced a significant drop on Monday as recession fears intensified due to disappointing economic data. Major banks like Citigroup, Wells Fargo, and Goldman Sachs saw declines of up to 5%. Analysts warn that a slowing economy could lead to reduced loan demand and increased credit losses. The S&P 500 Banks Index fell 3.3%, reflecting growing investor anxiety in the financial sector.
Source: YAHOO