Shares of banks and other financial institutions fell after earnings from three of the world's largest banks.
JPMorgan Chase, Wells Fargo and Citigroup all reported better-than-expected first quarter profits and revenues and executives said consumers and businesses are healthy.
Shares of all three retreated, however, as the firms warned that rising interest rates were forcing them to pay out more-than-anticipated on customer deposits.
Treasury yields tumbled because of reports that Iran was on the cusp of launching a military strike against Israel.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-12-24 1729ET
