Traders work on the floor of the New York Stock Exchange (NYSE) on January 12, 2026 in New York.
Angela Weiss | AFP | Getty Images
of S&P500 It fell on Tuesday as investors sold. JP Morgan That’s despite higher-than-expected numbers and volatility from President Donald Trump’s proposals that have surfaced in the past few days.
While the composite index fell by 0.4%, Dow Jones Industrial Average It decreased by 432 points (0.9%). of Nasdaq Composite It fell by 0.4%.
JPMorgan fell 3%, even though the company’s fourth-quarter results beat sales and bottom line results. Corporate revenue and equity trading revenue both increased in the quarter, but investment banking fees fell and were lower than expected.
The company’s chief financial officer, Jeremy Burnham, also suggested late Friday that the banking industry could push back against President Trump’s call for a one-year cap of 10% on credit card interest rates. goldman sachs JP Morgan followed, dropping 1%. Other financial stocks, etc. master card and visa fell about 4% each, making it one of the day’s worst performers. of State Street Financial Select Sector SPDR ETF (XLF) and Invesco KBW Bank ETF (KBWB) The pressure was on.
President Trump’s call to regulate credit card prices comes amid a number of demands from the president last week, including that defense companies should not be allowed to pay dividends or buy back their own stock, and that large institutional investors should be prohibited from purchasing more single-family homes.
“There’s a big question in terms of whether we know that these changes can be effected outside the executive branch without any involvement or approval from Congress,” said Tim Holland, Orion’s chief investment officer. “The path forward is not always clear.”
President Trump also said Monday night that Microsoft will announce changes to ensure Americans don’t see higher utility bills as a result of data center construction efforts. The stock price fell more than 1% last time.
Meanwhile, oil prices soared after President Trump canceled all meetings with OPEC’s top producer Iran and told protesters that “help is on the way.” His remarks came a day after he said countries doing business with Iran would be slapped with a 25% tariff on “all trades” with the United States.
Stocks rose slightly after December’s Consumer Price Index report showed that the core CPI, which excludes food and energy, rose 0.2% month-on-month and 2.6% annually, below the forecasts of 0.3% and 2.8%, respectively, of economists surveyed by Dow Jones, before reversing early Tuesday.
The monthly figure for headline inflation rose 0.3% in December, bringing the annual rate to 2.7%. Both numbers were in line with Dow Jones forecasts.
The CPI data comes days after December jobs data showed the labor market was stabilizing, although it weakened slightly, and is likely to prompt the Fed to hold off on cutting interest rates at its first meeting of the year later this month. Federal funds futures have priced in two quarterly point cuts since June, according to the CME FedWatch tool.
Wall Street is coming off a record-setting session, with the S&P 500 and Dow Jones Industrial Average both hitting new closing highs as investors overlook news of the Justice Department’s criminal investigation into Federal Reserve Chairman Jerome Powell. The Russell 2000 index of small and medium-sized companies also reached an all-time high.
President Trump slammed Powell again on Tuesday, calling him “incompetent” and “crooked” as concerns about the central bank’s independence persist.
