Why Goldman Sachs Stock Sank Today
Shares of Goldman Sachs (NYSE: GS) tumbled on Thursday. The investment banking giant's stock lost 9.3% as of market close and was down as much as 9.5% earlier in the day. The decline comes as the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) had their worst day in years.
President Trump's sweeping tariff announcement has triggered concerns about economic growth and market stability, hitting financial stocks particularly hard.
Goldman Sachs, a global investment bank, is feeling the pressure after President Trump's announcement of far-reaching new tariffs on nearly all U.S. trading partners. The extensive package includes a 34% tax on imports from China, 20% on the European Union, and a 10% baseline tax on all countries, representing what economists are calling the most significant disruption to global trade in nearly a century.
Source Fool.com
