New York, NY, United States (AHN) – U.S. stocks retreated on Wednesday with financials weighing on the three major indexes as Goldman Sachs’ missed revenue targets and American Express announced the closure of its North Carolina facility and job cuts to trim fourth quarter profits.
The Dow Jones Industrial Average lost 12.64 points or 0.1 percent to 11,825 with Bank of America and American Express as the biggest losers.
The Standard & Poor’s 500 Index fell 13 points or 1 percent to close at 1,282.
The Nasdaq Composite Index suffered its biggest one-day loss in two months by declining 40 points or 1.5 percent to 2,725.
Oil for March delivery was down 50 cents to $91.81 per barrel.
Gold futures for February delivery rose $2 to close at $1,370 an ounce.
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