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Wall Street drops after tepid big bank results


Tuesday, 16 April 2019 00:03 WIB

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Wall Street's main indexes fell on Monday, following a rally in the previous session that put the S&P 500 within striking distance of its record high, as underwhelming results from Goldman Sachs and Citigroup pressured financial stocks.

The sector fell for the first time in four sessions, down 0.75%, dragged lower by a 3.2% tumble in Goldman Sachs Group Inc and a 0.7% dip in Citigroup Inc after the banks missed revenue estimates.

The S&P banking index fell 1.12%, also weighed down by a 1.6% drop in JPMorgan Chase. Bank of America dipped 1.4% ahead of results on Tuesday.

At 12:09 p.m. ET, the Dow Jones Industrial Average was down 86.50 points, or 0.33%, at 26,325.80. The S&P 500 was down 9.31 points, or 0.32%, at 2,898.10. The Nasdaq Composite was down 37.15 points, or 0.47%, at 7,947.02.

Source : Reuters


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