The Latest Breaking News from Bank of America

Many of Bank of America’s peers at Goldman Sachs and Morgan Stanley have already started culling their employees as dealmaking dries up.

CEO Scott Kirby also suggested that the shift to hybrid work would help the airline, as it "makes every weekend a holiday.”

Asian investors extended a sell-off across global markets Wednesday while oil held losses on growing fears Federal Reserve monetary tightening will tip the US economy into recession. The drop followed another day deep in the red for New York's three main indexes after the heads of Wall Street's leading banks…

“The belief was when the Fed started raising rates that there would be an immediate snap to the economy,” Brian Moynihan said. “That didn't happen.”