top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

19 Jan 2022

Wall Street Plummeted as Yields Spike, Financials Fall after Goldman Miss

The Index Today

On Tuesday, Wall Street's main indexes fell sharply as weak results from Goldman Sachs missed quarterly profit expectations amid weak trading activity as U.S. Treasury yields rose to milestones.

The NASDAQ dropped most among major indexes on Tuesday and now has fallen about 9.7% from its Nov. 19 record closing high, close to confirming a 10% correction for the first time since early 2021. The tech-heavy index also closed below its 200-day moving average, a key technical support level, for the first time since April 2020. Goldman Sachs shares tumbled 7% after the investment bank missed quarterly profit expectations amid weak trading activity. The financial sector, which has been one of the better-performing groups in 2022, dropped 2.3%, according to the Reuters report.

Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana said, “The financials crumbling a little bit under the weight of less-than-impressive earnings quarters is probably the biggest factor today.” “When you have taken out potentially one of the areas that actually was working here, that kind of casts a pall on the market,” he added.

Benchmark U.S. Treasury yields jumped to two-year highs and two-year yields breached 1% as traders prepared for the Federal Reserve to be more aggressive in tackling unabated inflation.

©Photo: traderammo

Clay pottery with table linens
bottom of page