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Here's Why Wells Fargo Is Falling on Thursday

TheMotleyFool

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Here's Why Wells Fargo Is Falling on ThursdayPhoto, wide shot, wide-angle lens, Metal fabrication, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.midjourneyapi.xyz/temp/568784d0-c41a-4663-ab01-91f29a370903.png

As a whole, the stock market is having a pretty calm day on Thursday. As of noon EDT, the Dow Jones Industrial Average was down by less than 0.3% and the S&P 500 benchmark index was higher by about 0.5%.

However, with most big bank stocks reporting earnings throughout the week, the financial sector remained under pressure. The Financial Select Sector ETF (NYSEMKT: XLF) was lower by 1.4% and is down by nearly 9% for the week.

One particularly noteworthy underperformer is Wells Fargo (NYSE: WFC). The massive consumer bank is down nearly 6% today and has lost nearly 19% this week alone.

Source Fool.com

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