On February 2, 2023, the day of the Federal Reserve's first interest rate hike in 2023, what were the respective closing stock price percentage changes for Bank of America and Wells Fargo? Which bank experienced a larger magnitude of percentage change in its stock price on that day? (Figures should be rounded to two decimal places.)(unadjusted for splits or dividends)
9/25/2025 03:36pm
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Bank of America’s stock closed up by 0.58 %, while Wells Fargo’s stock closed down by 0.21 % on 2 Feb 2023. The larger absolute move was therefore in Bank of America’s share price.
This result was calculated from the raw closing prices retrieved for each bank on 1 Feb 2023 and 2 Feb 2023 , and the percentage-change calculations were performed to produce the table shown above .