Why Bank Stocks JPMorgan Chase, Bank of America, and Wells Fargo Are Falling Ahead of Earnings

After a rip-roaring rally yesterday, stocks resumed their sell-off today, as unrest about tariffs and U.S.-Chinese relations once again found the spotlight. The Dow Jones Industrial Average traded more than 1,100 points down in the final half-hour of trading, while the broader benchmark S&P 500 had fallen close to 3.8%.Large bank stocks also slid as the group prepared to kick off first-quarter earnings season tomorrow morning. Shares of JPMorgan Chase (NYSE: JPM) traded roughly 4% lower. Shares of Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) had fallen roughly 4.6% and 5.7%, respectively.The shock and awe of Trump's tariff pause yesterday seemed to make investors forget their troubles, close their short positions, and buy stocks like there's no tomorrow. But once investors regrouped this morning, they seemed to remember that significant tariffs, including 25% levies on steel, aluminum, and automobiles and a base 10% level of tariffs on most countries, are still in place.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool