Wells Fargo Profit Decimated as Coronavirus-Led Loan Defaults Loom

Reuters, Apr. 14, 2020–Noor Zainab Hussain, Imani Moise
Wells Fargo & Co on Tuesday reported a plunge in first-quarter profit as the U.S. bank set aside nearly $4 billion to cover potential losses on loans to consumers and small businesses hurting due to the coronavirus outbreak.