Bank of America stock falls after earnings miss and $1.2 billion penalty

What happened: Bank of America stock fell after an earnings miss and a $1.2 billion penalty. Citigroup, Goldman Sachs and Morgan Stanley shares also fell following their earnings reports. Key numbers: $1.2 billion penalty. Why it matters: The declines came even as the other banks reported revenue growth, signaling that earnings results and the penalty weighed on bank stocks. Coverage: 9 outlets in 24h

Bank of America stock fell after an earnings miss and a $1.2 billion penalty. Citigroup, Goldman Sachs and Morgan Stanley shares also fell following their earnings reports.

The declines came even as the other banks reported revenue growth, signaling that earnings results and the penalty weighed on bank stocks.