Goldman Sachs Group Inc. tumbled the most in more than 18 months after the firm’s stock traders posted a lackluster fourth quarter, another sign that the frenzied market activity spurred by the pandemic is cooling.
Revenue from the bank’s trading operation slid 7%, missing analysts’ estimates for a small gain. The surprise letdown came from its equities business, which declined 11%, according to a statement Tuesday. Despite rounding off their best year ever for both revenue and earnings, Goldman executives will need to address investor concerns that the trading business is on a downward trajectory.
