Bank Stocks Fall on Obamaphobia

Photo courtesy of Creative Commons

The selloff of bank stocks that began with President Obama’s re-election continues.

Since election day, Wells Fargo, Citigroup, Bank of America, JPMorgan Chase, Goldman Sachs and Morgan Stanley are down between 8.41 percent and 11.53 percent.

“It is no longer an arguable point that the selloff in U.S. stocks — and bank stocks in particular — is attributable to Obamaphobia in the financial services industry,” The Street reported Thursday.

Read more on St. Louis Business Journal.

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