Stocks Slip as Bank Results Weigh and Nasdaq Falls 1% on Nvidia Weakness

Overview

• The Dow fell 0.09%, the S&P 500 lost 0.53%, and the Nasdaq dropped 1.0% at the close.
• Wells Fargo sank about 4.6% after a revenue miss, while Bank of America and Citigroup also declined despite higher quarterly profits.
• Producer prices rose 0.2% month over month and retail sales increased 0.6%, pointing to mixed signals on growth and inflation.
• The 10-year Treasury yield eased to roughly 4.14% as investors sought safety, with gold and silver reaching record highs.
• Traders cited political pressure on the Fed, including President Trump’s criticism of Chair Jerome Powell and reports of a DOJ investigation, while some strategists framed the pullback as a potential buying opportunity ahead of major tech earnings.