Stock Market Today, Oct. 14: Bank of America Shares Fall 5% on Earnings Miss and Compliance Penalty

Bank of America stock fell 4.76% after missing Q3 earnings expectations and receiving a $1.2 billion fine from the U.S. Treasury Department for anti-money-laundering and sanctions violations. Despite the penalty, the bank showed mixed results with strong net interest income growth (8%), consumer banking revenue (+4%), and wealth management revenue (+13%), though global markets revenue declined 6% and investment banking fees fell 11%. Management raised 2027 net interest income guidance to 8% growth.