Wall St dragged down by disappointing bank results

Published by
Reuters

By Bansari Mayur Kamdar, Shreyashi Sanyal and SinĂ©ad Carew (Reuters) – Wall Street’s main indexes fell on Friday with the biggest drag from the financial sector as investors were disappointed by financial results from big U.S. banks, which cast a shadow over the fourth-quarter’s earnings season kick-off. Ten of the 11 major S&P 500 sectors were lower in afternoon trading, with financials falling 1.6%. The S&P 500 banks index slid 2% after hitting an intraday high in the previous session. JPMorgan Chase & Co tumbled 6.3% on reporting weaker performance at its trading arm. The bellwether lender …

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