Bank of America shares drop more than 5% after third-quarter revenue miss and regulatory penalty

Bank of America shares fell more than 5% on Wednesday after the bank reported weaker-than-expected third-quarter trading revenue and took a $1.2 billion fine from the Treasury. The penalty and revenue miss weighed on investor sentiment, driving the stock down sharply in trading. The bank did not provide further details on the revenue shortfall or the fine's impact on future earnings.