Bank Of America Corp (NYSE:BAC) is trading lower Monday amid continued escalation of the Russia-Ukraine conflict as investors continue to weigh the economic impacts of Russian sanctions.
Big banks, like BofA, have trillions of dollars of assets and exposure to the global economy, so when geopolitical events like Russia's invasion of Ukraine occur, banks are often negatively impacted.
Increasing sanctions against Russia could affect European financial institutions and investors fear the negative effects could eventually spread to U.S. banks.
Bank of America is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets.
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BAC 52-Week Range: $35.81 - $50.11
Bank Of America shares were down 5.91% at $38.54 at time of publication.
Photo: Mike Mozart from Flickr.
