US Stock Market Move | Large bank stocks collectively plummeted, with Citigroup (C.US) falling more than 11%.

On Thursday, large bank stocks fell sharply. Citigroup (C.US) dropped more than 11%, Bank of America Corp (BAC.US) dropped 10%, Morgan Stanley (MS.US) dropped more than 9%, Goldman Sachs Group, Inc. (GS.US), Wells Fargo & Company (WFC.US) fell more than 8%, and JPMorgan Chase (JPM.US) fell more than 6%. Analysts point out that the uncertainty brought about by tariffs has dampened trading and capital market activities, and investment banks are expected to be affected. The decline in consumer confidence may also suppress spending and loan demand.