Goldman Sachs' CEO Solomon flags weakness in trading business; shares slip

Investing.com -- Goldman Sachs fell in afterhours trading Monday after CEO David Solomon flagged weakness in the Wall Street bank's trading business in Q3, led by sluggish performance in its bond trading unit.  

Fixed income, currencies, and commodities, or FICC, and equities business is trading down 10% compared with the same period last year, Soloman said Monday, led by weakness in bond trading, strong comps and the current macro environment. 

Still, with a few more weeks to go until the end of Q3, Solomon suggested there is still time for the business to turn around. 

Goldman Sachs Group Inc (NYSE:GS ) fell more than 1% in afterhours trading following the news.

 

Source: Investing.com