Here's Why Wells Fargo Plunged on Wednesday
The stock market was having a rough day on Wednesday, with the Dow Jones Industrial Average and S&P 500 benchmark index down by 2.6% and 2.4%, respectively, as of 3:20 p.m. EDT. As we've seen throughout the COVID-19 pandemic, when the market falls, financial stocks are among its worst performers. Instead, today's move is fueled by fears that the economic impact of the COVID-19 pandemic could be worse and longer lasting than feared.