Big banks post strong Q3 profits, but warn higher rates and inflation could bite
- JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo reported combined third-quarter profits of nearly $32 billion, supported by stock trading and lending.
- Goldman Sachs earned $5.29 billion, JPMorgan Chase earned $15.31 billion, Citigroup earned $5.2 billion, and Wells Fargo earned $5.95 billion.
- The Federal Reserve’s survey found that 37% of adults could not fully cover a hypothetical $400 emergency with cash or its equivalent.
- Executives warned that high rates and inflation were weakening some activities, including investment banking and bond trading.
375 Articles
375 Articles
AI stock sell-off ramps up over debt-fueled data center spending fears: ‘Full-blown crisis of confidence’
Tech and AI-related stocks slumped Friday, poised for their worst week since July as fears mount that the debt-fueled data center buildout won’t pay off.
How major US stock indexes fared Friday 10/16/2026 – WTOP News
Stocks closed lower on Wall Street as more drops for big tech companies weighed on the market. The S&P 500 lost 1.1% Friday, and the Nasdaq composite sank 2.1%. Both posted their worst week since June. The Dow Jones Industrial Average didn’t do as badly, and fell 0.3%. Chip companies pulled back some more as...
Nasdaq sinks more than 2% as investors raise questions about AI debt
By John Towfighi, CNN New York (CNN) — Tech stocks are having a tumultuous week as concerns, including higher interest rates and mounting AI debt, continue to weigh on investor sentiment.The Nasdaq Composite fell roughly 2.5% on Friday, bringing its weekly losses to almost 5% and putting the tech-heavy index on track for its worst
AI Chip Stocks Lose $1 Trillion as Intel and Broadcom CEOs Warn of a Looming Funding Crisis
Semiconductor shares have fallen sharply as investors question AI spending returns, while industry executives warn that expensive borrowing and tighter financing could delay infrastructure projects.
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