Why Did Bank of New York Mellon Plunge 5.78%?

On April 7, 2025, New York Mellon experienced a significant drop of 5.78% in pre-market trading, reflecting a bearish sentiment among investors.

Market sentiment turned increasingly bearish in the closing days of last week, with stock futures indicating a volatile start to the week as investors brace for potential economic shifts.

Analysts are expecting Bank of New York Mellon to report earnings of $1.50 per share and revenue of $4.76 billion for the upcoming quarter, which could influence investor decisions and market movements.

Investors are closely watching the financial sector, including Bank of New York Mellon, as the S&P 500 slid further into correction territory and the Nasdaq sank into a bear market, highlighting the broader market volatility.

Evercore ISI boosted their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating, indicating a cautious yet optimistic outlook for the company's future performance.