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On Monday, the S&P 500 and Dow Jones Industrial Average traded down as shares of major banks descended broadly. It came into effect after worries over reports of corporate earnings due this week.

The Dow Jones Industrial Average closed 126.93 points down at 25,317.41 due to Goldman Sachs’ losses, whereas the S&P 500 dropped 0.4 percent and arrived at 2,755.88 after the financial sector lost 2.1 percent. It marked the fourth day of straight losses on the board for S&P 500. However, the Nasdaq Composite climbed up by 0.3 percent as closed at 7,468.36 after snapping its three-day streak.

The tech-shares also experienced losses as Apple and Amazon rose up by 0.6 percent and 1.4 percent, respectively. Citigroup and Bank of America both dropped down about 3 percent. Goldman Sachs and Morgan Chase both were lower by 2.4 percent and 1.4 percent, respectively. Meanwhile, Monday marked the worst day for the SPDR S&P Bank ETF as it pulled back 2.8 percent since 3.1 percent of October 10.

The shares of major banks closed lower after worries over cap loan growth due to the higher mortgage rates. Meanwhile, Wall Street tried to bounce back from steep losses but all major indexes were down by 4.3 percent on Monday amid fright over increasing interest rates.

In China, the markets were also down as Hong Kong’s Hang Seng index traded 2.03 percent down while the Shenzhen composite and the Shanghai composite both shed 1.229 percent and 1.37 percent, respectively.

Over in Japan, the Topix index declined by 2.36 percent and the Nikkei 225 fell 2.44 percent, whereas South Korea’s Kospi traded down by 2.48 percent as about to reach its lowest since March 2017. The ASX 200 of Australia was also down by 0.91 percent due to fallings in the financial sector by 0.97 percent.