Wells Fargo Plunges 9%, Biggest Drop Since August 2015 “ETFlash Crash”
Following Friday’s stunning announcement by the Fed penalizing Wells Fargo, and effectively quasi-nationalizing America’s largest mortgage lender (or maybe not largest any more), ordering it to “stop growing” until its gets its criminal house in order, on Monday Wells stock is reeling, tumbling as much as 9%, its biggest intraday drop since the August 2015 ETFlash Crash.
See Also: (Dahboo77) – White House: “We Are Concerned About The Market Selloff”
Having proudly owned every uptick in the stock market since his election, Donald Trump has been rather silent for the past week when it comes to commenting on the S&P’s recent reversal.
Commenting on just that, moments ago CNBC’s Eamon Jeavers reported that the White House said Monday it is worried about the U.S. stock market sell-off.