Home Breaking News UPDATED: Goldman’s stock decline cuts nearly 65 points from the Dow

UPDATED: Goldman’s stock decline cuts nearly 65 points from the Dow

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Shares of Goldman Sachs Group Inc. on Tuesday were erasing almost 65 points from the Dow Jones Industrial Average in early trade, after the giant investment bank’s first-quarter results fell short of Wall Street estimates. Goldman’s stock












GS, -4.66%










a contributor to the Dow, was off about 4.1%, or $9.47, from its Monday close of $226.26, which would translate into a 65-point drop for the price-weighted blue-chip benchmark. A drop of that magnitude for Goldman also would put it on track to log its worst daily percentage decline since June 24, 2016 when shares of the firm run by CEO Lloyd Blankfein dropped 7.07%, according to Dow Jones data. Goldman reported a profit of $2.26 billion, or $5.15 a share, which compares with $2.68 a share for the same period a year ago, when Goldman posted its worst first quarter in 12 years as trading slumped. In early trade, the Dow












DJIA, -0.53%










was off 101 points, or 0.5%, at 20,535, the S&P 500 index












SPX, -0.25%










was down 7 points, or 0.3%, at 2,341, while the Nasdaq Composite Index












COMP, -0.15%










retreated 16 points, or 0.3%, at 5,841.



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