Major US Banks Decline Thursday as Trump's Tariffs Spark Recession Fears

MT Newswires Live

2025/04/04

Stocks of major US banks closed in the red Thursday amid concerns over US President Donald Trump's tariffs potentially leading to a recession and eventually impacting the banks' earnings.

Citigroup (C) fell over 12%, Bank of America (BAC) was down more than 11%, JPMorgan Chase (JPM) declined by almost 7%, while Morgan Stanley (MS), Wells Fargo (WFC), and Goldman Sachs Group (GS) closed over 9% lower.

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