new York The forthcoming accounting season is casting its shadow. Fearing disappointing earnings figures as a result of rising inflation, US investors sold shares at the beginning of the week. The Dow Jones index of standard values closed 0.5 percent lower at 31,173 points. The tech-heavy Nasdaq fell 2.3 percent to 11,372 points. The broad S&P 500 lost 1.2 percent to 3854 points.
Big banks including JPMorgan, Citigroup and Morgan Stanley are due to report earnings later this week, which investors will scrutinize closely for any signs of slowing economic growth. The S&P 500 bank index fell one percent. Analysts expected rising loan loss provisions to have impacted second-quarter results for major US banks.
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