Bank of America Collapses 8.3% — $1.2B Money Laundering Fine + CPI Miss
BofA posted its worst earnings in years, compounded by a $1.2B money laundering fine and the hot CPI print, erasing ~$30B in market cap in the biggest single-day drop since April 2025.
What we know
Bank of America EPS came in at 91c vs $1.10 expected — missing badly — and the bank was simultaneously fined $1.2B over money laundering violations — an account on X. Another account on X confirmed the 8.3% drop, the largest since April 2025. The S&P 500 Banks Index hit a 4-month low, down 1.3% — another account on X. BlackRock was the day's banking bright spot — another account on X notes BLK +4.7% on a big beat with EPS $15.93 vs $14.32 and AUM reaching $15.5T. Morgan Stanley was flat ahead of its print.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.