The Zhitong Finance App learned that on Wednesday, Bank of America (BAC.US) opened and fell nearly 8%, the lowest since May; Morgan Stanley (MS.US) fell nearly 4%, the lowest since April. According to the news, Bank of America announced that profits fell sharply in the third quarter. Previously, the company was fined $1.2 billion by US regulators. At the same time, the company's revenue performance also disappointed the market, as actual revenue from the trading business was about $750 million less than expected. Wells Fargo analyst Mike Mayo (Mike Mayo) described Bank of America's capital market business performance this quarter as “unquestionably the worst among its peers” in a research report released on Wednesday.

Morgan Stanley's net revenue for the third quarter was US$20.34 billion, estimated at US$19.89 billion; net interest revenue for the third quarter was US$3.25 billion, estimated at US$2.78 billion; and FICC business sales and transaction revenue for the third quarter was US$2.01 billion.

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