Wall Street dips as bank earnings get a cool reception; Citi falls 5.6%, chips slide

Data as of: Closing prices Tuesday 13 October 2026; Wednesday morning, 14 October, as of about 06:02 Berlin time (AP)

Tuesday, 13 October: the Dow Jones lost 0.3% (−180.45 points) to 51,670.10, the S&P 500 slipped 1.79 points (less than 0.1%) to 7,805.45, staying just below last week's record, and the Nasdaq Composite fell 0.2% to 27,204.38. The Russell 2000 (smaller firms) dropped 0.4% to 2,783.37 (AP). Energy and utilities led, while health care and technology lagged (TheStreet).

Third-quarter bank results took centre stage. JPMorgan lifted profit 6% to $15.3 billion, but earnings of $5.57 a share missed the $5.90 forecast, and the stock lost 0.9%. Goldman Sachs reported a 29% profit increase and jumped more than 4% early, but closed 0.2% lower. Wells Fargo beat profit forecasts but missed on revenue, falling 3.1%. Citigroup posted its best third-quarter revenue in a decade ($23.8 billion) and raised its dividend, yet the shares fell 5.6%. Bank of America, which reports today, lost 1% after a $1.2 billion penalty.

Chip stocks kept falling on worries about progress at Chinese memory maker CXMT: Micron −3.6%, Applied Materials almost −7%; the Philadelphia semiconductor index fell for a fifth straight day. Bumble soared 56.6% on a $1.3 billion buyout deal. The 10-year Treasury yield eased to 5.21% from 5.24% on Friday. Brent fell 0.9% to settle at $105.69 a barrel, while WTI rose 0.4% to $94.14 (Reuters).

Wednesday morning: Asia mostly higher. The Kospi is up about 2% after Tuesday's 5.5% slump, the Nikkei 225 is up 0.6% and the Hang Seng 0.1%; Australia's ASX 200 is down 0.7% (AP, 06:02 Berlin time). Oil is climbing again: Brent +0.8%, WTI +0.9%. At 14:30 Berlin time today comes September US consumer price inflation (CPI): forecasts are 3.6% year on year after 3.4% in August, with core at 2.5%. Bank of America and Morgan Stanley report before the opening bell.