BAC is trading at $47.05 (-3.04%) as of 10:28 AM EST, declining in line with major indices as escalating Middle East tensions spark fears of oil supply disruptions in the Strait of Hormuz.
- The broader market is seeing a significant sell-off, with the S&P 500 down 1.10%, the NASDAQ dropping 1.44%, and the Dow falling 1.33%.
- There are no company-specific catalysts driving today's move; yesterday's news regarding tech banker hires has had no apparent impact on the stock's performance.