Data source: YCharts.com.
These differences aside, the important thing for investors to take note of right now is that both Bank of America and Citigroup are making impressive strides at returning to respectable profitability. Bank of America had its best year in nearly a decade in 2015. And Citigroup's earnings more than doubled last year compared to 2014.
These recoveries could slow down if a recession does indeed materialize, but I'd be surprised if the progress at these two banks stopped altogether. It's for this reason that I don't believe investors in either of these stocks should allow fear to influence their decisions about buying or selling shares of Bank of America or Citigroup in any way.
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The article Why Bank of America and Citigroup Are Plummeting on Monday originally appeared on Fool.com.
John Maxfield owns shares of Bank of America. The Motley Fool owns shares of and recommends Wells Fargo. The Motley Fool has the following options: short March 2016 $52 puts on Wells Fargo. The Motley Fool recommends Bank of America. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
