BofA Shares Fall Below $5 for First Time Since March 2009
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Bank of America Corp., the second-biggest U.S. lender, fell below $5 in New York trading for the first time since March 2009 amid concern that Europe’s debt crisis will be a drag on the world’s financial system.
Bank of America dropped 4.1 percent to $4.99 at 4:15 p.m. in New York, the worst showing in the Dow Jones Industrial Average, after falling as much as 5.4 percent, the most in more than a month. The lender has plunged 63 percent this year.