Saturday, 15 April 2017

Wall Street slides as investors weigh bank results, global risks >> News by Ripples Financial Advisory

Major US stock indexes fell on Thursday for a third straight day as investors weighed earnings reports from big US banks and geopolitical tensions, while the tech sector fell for a tenth consecutive session. Wells Fargo shares fell 3.3 percent, pulling down the S&P 500, after the bank reported a drop in mortgage banking revenue. Berkshire Hathaway also disclosed late on Wednesday that it had cut its stake in the bank.

JPMorgan fell 1.2 percent and Citigroup slipped 0.8 percent, even as those companies reported better-than-expected quarterly profits. Banks revealed more evidence of a slowdown in loan growth in their reports.

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