What will happen to the stocks of Wells Fargo and Bank Of America today?

Equities of companies in the broader financial services sector, including: Wells Fargo & Co (NYSE: WFC) and Bank of America Corp (NYSE: BAC), are trading lower Monday morning. A drop in interest rates has weighed on banking stocks, while renewed concerns about COVID-19 have weighed on the optimism of the economic recovery worldwide and pressured equities across all sectors ahead of the session.

Wells Fargo provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses and institutions in the United States and internationally.

Wells Fargo shares are trading 4.4% lower at $42.34. Wells Fargo has a 52-week high of $48.13 and a 52-week low of $20.76.

Also see: How to buy Wells Fargo stock?

Bank of America provides banking and financial products and services to individual consumers, small and medium-sized businesses, institutional investors, large corporations and governments worldwide.

Bank of America shares are 3% lower at $36.78. Bank of America has a 52-week high of $43.49 and a 52-week low of $22.39.

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