$BAC Shares Drop 8.3% After Q3 Profit Miss and $1.2 Billion Anti-Money-Laundering Charge

Bank of America ($BAC) shares fell 8.3% after the bank missed Q3 profit estimates and booked a $1.2 billion regulatory charge tied to anti-money-laundering failures.
Bank of America reported:
- Fixed-income trading revenue fell 17%
- Total trading revenue declined 5% to $5.1 billion
- Investment banking fees dropped 11% to $1.8 billion
- Net interest income rose 8%
Per Reuters, the penalty stems from failures to report over $5 billion in suspicious activity to U.S. authorities.
The earnings miss and regulatory charge added to pressure on the banking sector amid weaker trading performance across Wall Street.