Why Shares of Visa, Citigroup, and Goldman Sachs Traded With Volatility Today
Shares of several major financial and bank stocks traded with volatility today along with broader markets, as investors seemed confused on how to play rising inflation and upcoming policy decisions at the Federal Reserve. The Dow Jones Industrial Average at one point today had fallen more than 1,000 points before finishing the day in the green.
Shares of the payments company Visa (NYSE: V), money center bank Citigroup (NYSE: C), and investment bank Goldman Sachs (NYSE: GS) all fell nearly 5% today before clawing back most of those losses. Visa finished the day only about 2% down, Citigroup ended less than 1% down, and Goldman closed nearly flat.
Inflation has forced the Federal Reserve to move up its timeline on key policies such as the tapering of its bond-buying program, interest rate hikes, and whether or not to shrink its balance sheet.
Source Fool.com
