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July 20, 2018

Banks, other big stocks fall

By By MARLEY JAY
AP Markets Writer

NEW YORK — Banks and other large U.S. stocks fell Thursday, but smaller companies climbed, making for a mixed finish on Wall Street. Trade issues again weighed on the market as representatives of the auto industry told Congress they opposed tariffs on imported cars and car parts being proposed by the Trump administration.

Major banks fell as interest rates decreased. Weak second-quarter results also weighed on American Express and Bank of New York Mellon. President Donald Trump told CNBC he is “not happy” the Federal Reserve has been raising interest rates, which had little effect on the stock market but did send the dollar slightly lower.


 
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