Goldman Sachs stock drops 4% as CEO David Solomon warns of weak trading

Goldman Sachs shares dropped 4% after CEO David Solomon warned the Wall Street giant is facing a $400 million hit from the exit of a credit card venture as well as recent weakness in trading revenue.The Wall Street giant’s stock fell by just over$19 to $470 after Solomon told an industry conference in New York late Monday that the October quarter’s financial results will be hit by its exit from its consumer banking venture that began in 2022, including a joint credit card scheme with General Motors.But the ...