BUSINESS

Bank Of America Shares Fall Below $5

12/19/2011 03:41 pm ET

Shares of Bank of America Corp traded below $5 on Monday for the first time since the depths of the current bear market in March 2009.

The stock hit a session low of $4.96, and with more than 245 million shares traded so far its volume-weighted average price was $5.0432. The stock closed at $5.20 on Friday.

Shares of financial institutions have declined on worries about the global economy and the possible exposure to sovereign defaults in Europe.

(Reporting by Rodrigo Campos; Editing by Chizu Nomiyama)

Copyright 2011 Thomson Reuters. Click for Restrictions.

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