The Fed announced that it was examining the activities of the Goldman Sachs retail banking division to determine whether the bank had adequate collateral when it increased lending. This information was confirmed by the Wall Street Journal and Reuters. The bank's shares fall sharply on the news. At the moment, stock is trading 3.5%lower. By comparison, Wells Fargo stock oscillates near the flatline, while Citi stock is gaining. Let us also recall that Goldman Sachs recently showed quite poor results for the fourth quarter of 2022.
Goldman Sachs (GS.US) stock price is testing recent local lows, which coincides with 50.0% Fibonacci retracement of the upward wave launched at the beginning of autumn. Source: xStation5
