Bank of America, JPMorgan, Alcoa: Dow Midday Movers

NEW YORK ( TheStreet) -- U.S. stocks were falling midday Wednesday, adding to losses from Tuesday as more quantitative easing from the Federal Reserve seems less likely.

The Dow Jones Industrial Average dropped 157.04 points to 13,042.51. Leading the Dow lower were Bank of America ( BAC), JPMorgan Chase ( JPM) and Alcoa ( AA).

Shares of Bank of America fell 3.27% to $9.18. The bank's shares dropped nearly 2% Tuesday to close at $9.49.

Bank of America's stock is the biggest gainer in the Dow year to date with an increase of 64.75%.

TheStreet Ratings gives Bank of America a C- grade and hold rating.

JPMorgan shares lost 2.97% to $44.07. Regulators are getting ready to reprimand JPMorgan for its part in Lehman Brothers' downfall, according to The New York Times. The bank is expected to settle this issue and pay a fine.

JPMorgan gets a B+ grade with a buy rating and a $52.75 price target from TheStreet Ratings.

Shares of Alcoa dropped 2.49% to $9.81. TheStreet Ratings gives Alcoa a C grade and hold rating.

The biggest gainers in the index midday Wednesday were AT&T ( T) and Procter & Gamble ( PG). Neither had gains of more than 1%.

-- Written by Alexandra Zendrian

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