The Latest Breaking News from Bank of America

Analysts expect the Federal Reserve to raise interest rates by 0.5% in the middle of this month, putting pressure on stocks, gold and oil to continue their freefall.

Many of Bank of America’s peers at Goldman Sachs and Morgan Stanley have already started culling their employees as dealmaking dries up.

CEO Scott Kirby also suggested that the shift to hybrid work would help the airline, as it "makes every weekend a holiday.”

Asian investors extended a sell-off across global markets Wednesday while oil held losses on growing fears Federal Reserve monetary tightening will tip the US economy into recession. The drop followed another day deep in the red for New York's three main indexes after the heads of Wall Street's leading banks…