Yahoo News – Investors are back to worrying about banks.
Long-present unease about soured loans bubbled over on Monday after Bank of America Corp. said it set aside $13.4 billion to cover lending losses even as it posted earnings that beat expectations. Other big banks have also increased loss provisions in the past two weeks.
Major market indicators tumbled more than 3 percent, including the Dow Jones industrial average, which fell 290 points. Bank of America shares plunged 24.3 percent.
