Bank of America shares declined 2.78% to $53.85 after the Bank of America Institute reported that middle-class households are facing increasing financial strain.

  • Internal transaction data indicates middle-income spending growth slowed to 1%, trailing the 2.5% growth observed in higher-income groups.
  • Economic sentiment was further pressured by U.S. labor data revisions that erased approximately 900,000 jobs from 2025 records.
  • The resulting uncertainty triggered bearish market activity, with put options volume rising to 1.3 times expected levels.