Goldman Flags 25% Drop in Trading Revenue

Goldman Sachs is experiencing a 25% decline in trading business this quarter compared to last year, which saw significant gains. The market reacted negatively, with Goldman’s stock dropping over 2.3%. Concerns extend beyond trading, as investment banking remains sluggish, with clients showing risk-averse behavior. These issues are not unique to Goldman, as similar challenges are reported by Morgan Stanley and Bank of America, indicating a broader industry trend of reduced trading activity and stagnant investment banking.

What is the overall sentiment regarding trading activity among major banks like JP Morgan and Bank of America?

What did Morgan Stanley's president say about the state of investment banking?