: Bank stocks tumble after data shows inflation roaring back in August, sending bond yields higher

by | Sep 13, 2022 | Stock Market

Bank stocks fell sharply Tuesday as worse-than-expected inflation data sparked a spike in Treasury yields and a drop in stock prices, while clouding the outlook for big financial institutions that hold bonds. JPMorgan Chase & Co.
JPM,
-3.15%
fell 3.3%, Goldman Sachs Group Inc.
GS,
-3.94%
dropped 3.6%, Morgan Stanley
MS,
-2.97% …

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