US stocks slide as investors assess bank earnings

US stocks fell at early trading in Wednesday’s session, heading for a second consecutive day of losses, as investors monitored earnings results from major US banks.

The Dow Jones Industrial Average slipped 0.1%, or 40 points, to 49,151 as of 5:37 p.m. Makkah time.

The S&P 500 also declined 0.44% to 6,932, while the Nasdaq Composite dropped 0.8% to 23,520.

Shares of Bank of America fell 2.86% to $52.75, and Wells Fargo slid 4.4% to $89.07, following the release of their earnings reports.

Other banking stocks also declined, though at a more moderate pace, with JPMorgan Chase down 0.4%, Goldman Sachs slipping 0.8%, and Citigroup falling 0.7%.