Bank of America (BAC) shares dropped 1.27% to $54.67 on February 5, 2026, as the broader market declined sharply amid recession fears and a historic rotation of capital from high-growth technology into defensive consumer staples.
- The broader market saw significant losses, with the S&P 500 falling 1.32% and the Nasdaq dropping 1.93%, following weak labor market data and disappointing AI guidance from major tech players.
- BAC currently maintains a Zacks Rank #3 (Hold) rating, with consensus earnings estimates projected at $4.3 for fiscal 2026, representing a 12.9% year-over-year increase.
- Bank of America Global Research highlighted that capital is flowing into consumer staples at record levels, signaling a structural shift as investors seek safer assets amid macroeconomic uncertainty.