Bank Of America Expects Q3 Investment Banking Fees To Fall Over 10%; Shares Slide
Guidance·2 articles across 2 outlets
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Bank of America has projected that its investment banking fees will decline by more than 10% in the third quarter. This muted outlook from the country's second-largest bank by assets could be an early signal that Wall Street's AI boom might have hit turbulence.
As a result of this forecast, Bank of America has led financial services stocks lower, reflecting concerns over weak Wall Street fee expectations.
Bank of America
Sources
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SourceReports the news
“The muted outlook from the country's second-largest bank by assets could be an early signal that Wall Street's AI boom might have hit turbulence.”
CNBC — Bank of America expects third-quarter investment banking fees to fall more than 10%; shares slide“Bank of America leads financial services stocks lower on weak Wall Street fee forecast”
Yahoo Finance — Bank of America leads financial services stocks lower on weak Wall Street fee forecast