Weak Earnings, Geopolitical Risks Sap Strength from U.S. Stock ETFs

U.S. equities and stock exchange traded funds weakened Tuesday as traditionally stalwart companies revealed lackluster quarterly earnings results and lingering geopolitical concerns weighed on investors.

The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), declined 0.3% Tuesday.

Weighing on market sentiment Tuesday, Goldman Sachs (NYSE: GS) revealed earnings that missed expectations as trading revenue dropped, and company shares experienced their worst daily percentage drop since June 24, a day after the U.K.’s Brexit vote, reports Chuck Mikolajczak for Reuters.

Additionally, Johnson & Johnson (NYSE: JNJ) slipped on its worst day in over eight years after the company’s quarterly revenue fell short of expectations.