Goldman Sachs missed the forecasts, dropping Wall Street
The investment bank did not live up to its profit forecast, falling by seven percent and lowering the Nasdaq to the lowest rate in three months.
Decline in shares of banks and technology
Tuesday, 18 January 2022, 23:00 Updated: 23:10
Share on Facebook
Share on WhatsApp
Share on Twitter
Share on Email
Share on general
The reporting season on Wall Street opened today (Tuesday), and judging by the report that launched it, by Goldman Sachs, a very cold winter is expected in New York.
The investment bank greatly missed the forecasts, and the market closed the trading day with sharp declines.
More on Walla!
In honor of Tu B'Shvat: a slice of fresh and juicy asado with dried fruit
Food in conjunction with Pavilion Wines
Lots of red on the screens (Photo: GettyImages)
Goldman Sachs opened the fourth-quarter reporting marathon with a huge miss of forecasts.
While turnover swelled to $ 12.46 billion compared to expectations of 12.01, sales did not reach the forecast of 2.47 billion and stabilized at 2.12 billion.
The bottom line, earnings per share, was a huge miss - $ 10.81 compared to $ 11.60 according to analysts' expectations.
Goldman Sachs shares reacted, as expected, with declines and closed with a decline of about 7 percent, after flirting with a sharper decline during the day.
The Nasdaq was down 2.60 percent to 14,507, the lowest in three months.
The Dow Jones industrial average was down 1.5 percent.
Bank shares reacted in bright red to a decline in Goldman Sachs.
Bank of America was down 3.5 percent, Wells Fargo was down 2.34 percent and Deutsche Bank and HSBC responded with a more moderate drop of less than one percent.
In the technology segment, Amazon fell 2 percent, Apple 1.9 percent, Facebook more than four percent and Microsoft 2.4 percent.