On September 16, Bank of America fell 3.02% in regular trading, trading at $57.75/share, with turnover of $15.71 billion. The stock extended its selloff following CEO Brian Moynihan's warning earlier this week that Q3 sales and trading revenue would be \"relatively flat\" year-over-year, with investment banking fees projected at $1.6 billion to $1.8 billion, below market expectations.

Adding to downside pressure, Goldman Sachs lowered its price target on Bank of America to $76 from $79 while maintaining a Buy rating. The muted Q3 outlook stands in stark contrast to the bank's strong first-half performance, during which its equity trading desk posted record revenue in the second quarter. Moynihan noted a pullback in financing activity, partly due to slowing Asia prime brokerage balances, while fixed-income trading remained range-bound. The divergence was further highlighted as JPMorgan projected Q3 trading revenue and investment banking fee growth, underscoring a widening performance gap among Wall Street peers. The broader Diversified Banks sector traded lower, with JPMorgan down 1.23%, Citigroup down 2.74%, and Wells Fargo down 2.91%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)