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US Bank Stocks Tumble as Sweeping Tariff Stokes Recession Fears
BACBank of America(BAC) ZACKS·2025-04-04 22:46

Shares of U.S. banks were hit hard during yesterday’s session following Trump’s announcement of sweeping tariffs — a move that has sparked fears of a global trade war, and is expected to lower economic growth and reignite inflation.Meanwhile, the Dow Jones Industrial Average fell 3.9%, the S&P 500 dipped 4.8% and the Nasdaq Composite declined 5.9%. Bank stocks (whose financial well-being depends on the nation’s economic health) performed worse than the major benchmarks. The KBW Nasdaq Bank Index slid 9.8% a ...