Bank of America Corp (NYSE:BAC) shares are trading lower by 3.59% at $33.26. Shares of several banks and financial services companies are trading lower amid overall market weakness after CPI data showed prices rose in May. Rising inflation has caused concerns of a slowdown in economic activity, which could impact the sector.
According to the Bureau of Labor Statistics, the all-items CPI figure increased 8.6 percent for the 12 months ending May, the largest 12-month increase since the period ending December 1981.
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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 $32.96.
