Yellen’s Last Hurrah: Friday penalties send Wells Fargo stock on Monday morning Nosedive
Wells Fargo stock shed more than 8 percent of its value as investors responded to sanctions imposed by Janet Yellen, in her last act as Chair of the Federal Reserve. The Fed Board of Governors penalized the bank at 6 pm on Friday evening, as Yellen was on her way out the door. On Monday morning at the opening bell, Wells stock dropped to $58.71 per share, after ending last week at $64.07 per share. Fed governors issued the order because of widespread abuses revealed…