Shares of banks and other financial institutions fell after mixed earnings from Wall Street banks.
Morgan Stanley shares rallied as growth at its wealth-management operations offset a hiatus in investment banking activity.
Goldman Sachs Group shares tumbled after it posted a 66% drop in fourth-quarter profit, as a push into consumer banking failed to compensate for a sharp slowdown in dealmaking.
Wells Fargo and Goldman Sachs were the only ones of the six largest U.S. banks to lay off workers during the latest quarter.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-17-23 1701ET
