BofA Below $5 May Force Money Managers' Hands
CNBC "On-Air Stocks" Editor
Bank of America, shortly after 3pm ET, broke below $5, the level where some money managers may have to sell stocks.
Immediately, other financials — American Express , JPMorgan , General Electric* — also dropped.
The Financial SPDR , the main financial ETF, also saw a volume spike and dropped as well. The Dow dropped about 60 points.
*General Electric maintains minority ownership of NBCUniversal, corporate parent of CNBC.
Bookmark CNBC Data Pages:
Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani.
Questions? Comments? email@example.com