trending Market Intelligence /marketintelligence/en/news-insights/trending/kwfcd6ugufchmqxgerzltq2 content esgSubNav
In This List

US big 4 banks retreat amid economic reports

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


US big 4 banks retreat amid economic reports

The four biggest banks in the U.S. were trading slightly lower before noon on Thursday, March 22.

Bank of America Corp. retreated 2.73% to $31.00, JPMorgan Chase & Co. dropped 1.96% to $112.49, Wells Fargo & Co. dipped 2.30% to $53.53 and Citigroup Inc. was down 2.02% to $71.84.

Initial claims for U.S. unemployment benefits rose by 3,000 to a seasonally adjusted 229,000 for the week ended March 17 from an unrevised level of 226,000 in the previous week, according to the U.S. Department of Labor.

In general, U.S. bank and thrift stocks were also declining before midday. At 11:50 a.m. ET, the SNL U.S. Bank Index fell 2.53% to 622.18 and the SNL U.S. Thrift Index slipped 1.63% to 960.09. The Dow Jones Industrial Average was down 1.48% to 24,316.61, the S&P 500 fell 1.43% to 2,673.86 and the Nasdaq Composite Index retreated 1.46% to 7,238.30.

S&P Dow Jones Indices and S&P Global Market Intelligence are owned by S&P Global Inc.

Market prices and index values are current as of the time of publication and are subject to change.