Bank of America Tumbles 7% While Verizon, J&J, and Chevron Rally on Dividend Hikes

While Bank of America saw a significant 7.04% drop due to investor flight from the financial sector, blue-chip dividend stocks like Verizon, Johnson & Johnson, and Chevron rallied last week. Johnson & Johnson raised its dividend by 4.8%, Verizon announced a new quarterly dividend and a $25 billion buyback program, and Chevron increased its dividend by 4%. This performance indicates an ongoing rotation into safer blue-chip investments, particularly in the telecom and energy sectors, amidst shifting interest rate expectations and concerns about AI disruption impacting other market segments.