Why Bank Of America Shares Are Falling Today

Bank of America Corp BAC shares are trading lower by 2.36% to $30.82 Tuesday afternoon. Shares of banks and financial services companies are trading lower Tuesday amid broader economic concerns as traders assess the possibility of a recession.

The U.S. Bureau of Economic Analysis last week reported real disposable personal income decreased 0.1 percent in May and real personal consumption expenditures decreased 0.4 percent; expenditure on goods decreased 1.6 percent.

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According to data from Benzinga Pro, Bank of America has a 52-week high of $50.11 and a 52-week low of $30.45.