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Goldman Sachs Q4 profit misses estimates on weak equity trading

Bank earnings have been hurt this quarter by weak trading volumes as the Federal Reserve slowed the pace of its asset purchases after an 18-month period

Goldman Sachs | Photo: Bloomberg
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Goldman Sachs | Photo: Bloomberg

Reuters
Goldman Sachs Group Inc profit fell nearly 13% and missed expectations on Tuesday as a less volatile equity market hurt trading business and dampened a bumper year for deals, sending the shares of Wall Street's premier investment bank down 4%.

Bank earnings have been hurt this quarter by weak trading volumes as the Federal Reserve slowed the pace of its asset purchases after an 18-month period in which it pumped liquidity into capital markets to ease the impact of the COVID-19 pandemic.

Goldman's trading unit reported a lower profit in the fourth quarter compared to a year earlier as a more stable

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