• News Desk

BANK STOCKS PLUNGING


It’s a bad time to be a United States bank. After Britain voted to leave the European Union, the world has felt the ripples of economic uncertainty hit them. U.S. banks are feeling the impacts more than others. Bank of America and Morgan Stanley have both seen their shares drop 13%. Goldman Sachs, the “creme de la creme” of investment banks, is down 22% for the year, making it the lowest performing of all the stocks in the Dow Jones index. Chief among the problems facing these banks is the fact that no rate hike will be instituted in the coming months. Furthermore, the global economy is becoming increasingly uncertain. The Brexit vote has caused over $3 trillion worth of stocks to disappear overnight.

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#GoldmanSachs #BankofAmerica #MorganStanley #Brexit

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