Shares of Bank of America (NYSE: BAC) fell more than 4% on Thursday, Wells Fargo (NYSE: WFC) closed roughly 6% lower, Citigroup (NYSE: C) dipped 3.7%, and JPMorgan Chase (NYSE: JPM) was more than 2.9% lower. What happened Shares of the major U.S. banks all were lower today after the Federal Reserve indicated yesterday that inflation might not be as temporary as some had initially thought. Inflation has been a hot topic among investors, with many believing that rising consumer prices are a temporary result of excess stimulus dollars and a reopening of the economy.