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Stock falls on rumors of losses

Friday, Jan. 5, 2001 | 11:03 a.m.

CHARLOTTE, N.C. -- Bank of America Corp., which saw its stock drop almost 8 percent in early trading today, denied rumors it lost money in derivatives markets and said the company was "conducting business as usual."

Bank of America, the No. 2 bank in Nevada, fell as much as $4 to $47.50 this morning after CNBC reported rumors that the largest U.S. bank may have had problems with its derivatives trading in Europe and Asia. It was down $3.38 to $48.13 in midmorning trade after the company refuted the report.

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