Bank of America stock drops after earnings beat as investors dig into rates, regulation
Bank of America shares fell 4.3% to $52.22 Wednesday despite posting fourth-quarter net income of $7.6 billion, or $0.98 per share, above analyst estimates. The drop came as investors focused on forecasts for net interest income and credit trends, with policy risks and a proposed credit-card rate cap adding uncertainty. The S&P 500 slipped 0.43% and the Nasdaq fell 0.68% in early trading.