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Goldman Sachs and Other Big Banks Break Down

Justin Kuepper

Shares of The Goldman Sachs Group, Inc. ( GS) fell more than 3% on Tuesday, following in the footsteps of Morgan Stanley ( MS), Bank of America Corporation ( BAC), Citigroup Inc. ( C), JPMorgan Chase & Co. ( JPM) and Wells Fargo & Company ( WFC), which all moved lower. The downtick was sparked by comments made by Morgan Stanley executives at a New York conference stating that transaction revenue slowed in March and remained lower in April and May. The Trump administration announced that it would move forward with its threat to impose tariffs on Chinese imports, which renewed fears of a trade war over the coming quarters.