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Why Comerica Stock Is Down Big Today

TheMotleyFool

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Why Comerica Stock Is Down Big TodayPhoto, wide shot, wide-angle lens, soft focus, Asset management firm, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-4Gf80r47YD589EFtjlMy4oXE.png?st=2023-05-06T14%3A52%3A24Z&se=2023-05-06T16%3A52%3A24Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-06T00%3A39%3A24Z&ske=2023-05-07T00%3A39%3A24Z&sks=b&skv=2021-08-06&sig=d8x8qxYEsZ8AfRwcBw8eUkxkNQFVf9GobJgEag27Xug%3D

Comerica (NYSE: CMA) topped quarterly expectations in its latest earnings report, but the bank delivered a couple of surprises that left investors feeling less confident about what lies ahead.

Wall Street is mostly focused on the negative, sending Comerica shares down about 12% as of noon ET.

Bank stock investors have had a lot to digest so far in 2024. The Federal Reserve's push to fight inflation by raising interest rates has eaten into margins and forced banks to be on the defensive.

Source Fool.com