The broad-based S&P 500 also slid 0.8 per cent to 3,764.06, and the tech-rich Nasdaq Composite Index stood at 13,012.00. ― Reuters pic
Large bank shares were solidly lower following earnings reports from JPMorgan Chase and other financial heavyweights that revealed a mixed toll from the coronavirus downturn. Analysts also cited Commerce Department data showing a 0.7 per cent drop in December US retail sales, as well as concerns Biden’s US$1.9 trillion package could spur tax hikes.