US stocks edged lower on Tuesday as quarterly results from banks added to concerns about lower interest rates dampening their profits, while comments from U.S.President Donald Trump on trade also dragged down Wall Street's major indexes.
JPMorgan Chase & Co and Wells Fargo & Co beat quarterly profit
estimates but reported weaker net interest income, pointing to rising
deposit costs. Those results followed Citigroup Inc's results on Monday, in which the bank reported a drop in its net interest margin.
JPMorgan shares erased early losses to end 1.1% higher. Wells Fargo
shares, however, slipped 3.0% as the bank tempered its outlook for
cutting costs.
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