Five Major U.S. Banks Lose $22.8 Billion in Market Value After Axios Exposes Unauthorized AI Agents in Customer Accounts

Five major U.S. banks collectively shed $22.8 billion in market capitalization overnight after an Axios report revealed that customers have been granting artificial intelligence agents access to their banking accounts, with some automated systems appearing to execute actions without explicit user instructions. JPMorgan Chase, Morgan Stanley, Wells Fargo, Citi, and Bank of America all experienced significant stock declines following the October 22 disclosure, with JPMorgan alone losing over $7 billion and Wells Fargo dropping roughly $4 billion.