Question: On February 2, 2023, the day of the Federal Reserve's first interest rate hike in 2023, what were the respective closing stock price percentage changes for Bank of America and Wells Fargo? Which bank experienced a larger magnitude of percentage change in its stock price on that day? (Figures should be rounded to two decimal places.)(unadjusted for splits or dividends)
Answer: Bank of America: 0.58%,Wells Fargo: -0.21%.
(Rounding errors are allowed)
Bank of America experienced a larger magnitude of percentage change.