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.