Wells Fargo Down One Point After CFO Unexpectedly Retires (WFC)

Wells Fargo WFC is trading over a point lower today after unexpected news yesterday of the retirement of its CFO. With the drop of over 2%, Wells Fargo has lost over $3.5B in market capitalization overnight. Traders are concerned that the unexpected retirement of a well-informed financial executive could signal possible concerns in the financial health of the firm. This article may include mentions of rumors, chatter, or unconfirmed information. Readers should beware that while unconfirmed information may be correlated with increased volatility in securities, price movements based on unofficial information may change quickly based on increased speculation, clarification, or release of official news.