UPDATE: Goldman, J.P. Morgan stocks knock Dow industrials lower in afternoon trade
The Dow Industrial Average saw its losses firm in afternoon trade on Tuesday, with shares of banks leading the charge. The Dow Jones Industrial Average was off about by 35 points, or 0.2%, at 23,513, the S&P 500 index retreated 0.1% at 2,587, while the Nasdaq Composite Index gave up 0.4% at 6,762. The financials sector, as measured by the exchange-traded Financial Select Sector SPDR ETF (XLF), was down 1.3%, on pace for its worst daily decline since Sept. 8, according to FactSet data. Among Dow components, shares of J.P. Morgan Chase & Co. (JPM) and Goldman Sachs Group Inc. (GS) were cutting a combined 33 points from the price-weighted, blue-chip benchmark.
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
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