Goldman Sachs Group Inc. fell the most since the day after the U.K. voted to leave the European Union, leading the Dow Jones Industrial Average lower after bond-trading revenue fell short of estimates and lagged behind rivals.
Shares of the company slid as much as 4.5 percent and traded at $217.13, for a 4 percent decline, at 11:13 a.m. in New York. Revenue from fixed-income trading of $1.69 billion suffered from weaker demand in commodities and currencies, the New York-based company said Tuesday in a statement, and missed analysts’ $2.03 billion estimate.
See the prediction in: The Bigger They Are, The Harder They Fall.
UAL down 3.96% or $2.80, the blood on the floor is only the beginning for UAL and its competitors because of overcapacity and stagflation in which oil will spike because of the weak dollar. Crude up 7% in last month. UK Pound up 2.24% vs. Dollar.
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