Bank of America Shares Drop After Earnings Miss and Fine

• Bank of America's stock dropped by as much as 8.7% before closing with a 4.7% decline.
• The bank reported earnings that missed both revenue and profit expectations.
• Government regulators fined Bank of America $1.2 billion for failing to monitor properly.
• The fine was announced after market close the previous day.
• The bank's stock price began to recover as the trading day progressed.