China data and bank figures hit US markets – Wall Street closes in the red

new York Disappointing quarterly results from major US banks and economic data from China dampened Wall Street investors’ spirits on Tuesday. The Dow Jones index of standard values ​​closed 1.1 percent lower at 33,910 points. The tech-heavy Nasdaq, on the other hand, advanced a moderate 0.1 percent to 11,095 points. The broad S&P 500 lost 0.2 percent to 3990 points.

“Goldman Sachs’ quarterly results were even worse than widely expected,” said Opimas analyst Octavio Marenzi. “Morgan Stanley’s, on the other hand, were largely in line with the forecasts.” According to economist Peter Cardillo from investment advisor Spartan Capital Securites, the slowdown in economic growth in China and profit-taking after a rally at the beginning of the year also contributed to the depressed mood.