NEW YORK (AP) — Stocks fell broadly in afternoon buying and selling on Wall Street Thursday and banks had been among the many greatest weights available on the market following weak earnings and a warning from JPMorgan Chase.
The S&P 500 fell 0.4%, the Dow Jones Industrial Average fell 0.6% and the Nasdaq fell 0.1%.
JPMorgan Chase reported a pointy drop in earnings for its newest quarter, falling in need of forecasts. CEO Jamie Dimon reaffirmed a pessimistic view for the economic system.
Inflation on the wholesale stage climbed 11.3% in June in contrast with a yr earlier.
It follows a worrisome report on Wednesday exhibiting costs on the client stage stay excessive.