Goldman Sachs stock selloff slashing more than 100 points off the Dow's price

Dow Jones2022-01-18

MW Goldman Sachs stock selloff slashing more than 100 points off the Dow's price

Shares of Goldman Sachs Group Inc. $(GS)$ sank 4.2% in premarket trading Tuesday, putting them on track to open at a six-month low, after the bank and broker reported fourth-quarter profit that fell well short of expectations. The stock was by far the biggest drag on the Dow Jones Industrial Average . The implied price decline would shave about 105 points off the Dow's price, while Dow futures slid 307 points or 0.9%. The next biggest drag on the Dow is Microsoft Corp.'s stock $(MSFT)$, which slumped 1.4% after announcing a $68.7 billion deal to buy Activision Blizzard Inc. $(ATVI)$, with the implied price decline taking about 29 points off the Dow's price.

-Tomi Kilgore

$(END)$ Dow Jones Newswires

January 18, 2022 08:58 ET (13:58 GMT)

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