Wall Street's 4 top banks just had $55 billion wiped off their market value in a single day
and Morgan Stanley - the four most valued US lenders - saw $55 billion wiped off their combined market capitalization on Thursday, Refinitiv data show.
JPMorgan, the biggest US bank, alone saw a $22 billion tumble in its market value as its stock slid 5.41% to $130.34. Wall Street heavyweight lost $16.16 billion as its share price fell 6.20% to $30.54. Wells Fargo and Morgan Stanley saw their market capitalization drop by $10.3 billion and $6.2 billion, respectively.Among other major US banks, Goldman Sachs and Citi also witnessed significant declines in their share prices.
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