US Bank Stocks Approach Bear Market

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US Bank Stocks Approach Bear Market

(New York)

Bank stocks had a strong run following Trump's election, but things have been much more grim in recent months. Major lenders have suffered in the face of falling expectations for Trump-led growth, deregulation, tax cuts, and inflation. All of this has conspired to bring down the once high-flying stocks. After a big move upward, banks are now approaching bear market territory, with Goldman Sachs down 16.5% from its March peak. Wells Fargo is down 14% and JP Morgan 12%.

FINSUM : The losses are logical given how slow progress in Washington has been. Goldman's fall was steeper because of the big earnings miss, however.

  • stocks
  • banks
  • bear market
  • Goldman Sachs
  • jp morgan
  • wells fargo

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , stocks

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