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Here's Why Wells Fargo Stock Is Plunging on Friday

Here's Why Wells Fargo Stock Is Plunging on Friday

The stock market was having a rough day on Friday, with the Dow Jones Industrial Average and S&P 500 both lower by about 1%. While the bank's earnings per share beat expectations, revenue fell short, thanks to worse-than-expected net interest income. CEO Charlie Scharf expressed disappointment in the bank's results and acknowledged the work necessary to put the bank's "legacy issues" behind it is weighing on earnings.