Banks, lenders and other financial companies declined as bank earnings failed to live up to high expectations.
Shares of J.P. Morgan Chase ticked down after the largest U.S. bank by assets posted third-quarter earnings of $6.73 billion, 7.1% higher than a year earlier as increased lending profits offset weaker trading results.
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Similarly, Citigroup posted higher third-quarter profit, as cost cuts compensated for struggles at its credit-card lending business.
HSBC Holdings named retail head John Flint as its next chief executive, signaling continuity in the Asia-focused bank's strategy.
-- By Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
October 12, 2017 16:34 ET (20:34 GMT)