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April 16, 2019

S&P 500 falls, hurt by weak bank stocks

By STAN CHOE
AP Business Writer

NEW YORK — U.S. stock indexes edged lower on Monday, pulled down by sinking bank stocks, and the S&P 500 fell for just the third time in the last three weeks.

Goldman Sachs recorded one of the largest losses in the S&P 500 after describing a “muted start to the year,” even though its earnings for the first quarter still beat analysts' expectations. Citigroup also slipped following its earnings report, as banks lead off a quarterly reporting season that analysts expect to be the weakest in nearly three years.


 
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