Market Turmoil: Recent US-China Trade Tensions Impact Wall Street Indices

Wall Street indices fell on renewed US-China trade concerns amid Q3 profits from major banks. Goldman Sachs and JPMorgan reported significant falls despite outperforming profit expectations. Wells Fargo shares rose. Investors watch Federal Reserve Chair Powell's upcoming speech for insights on US monetary policy amid ongoing government delays.

Major Wall Street indices fell on Tuesday, affected by fresh concerns over the US-China trade conflict. Despite upbeat third-quarter earnings reports from major banks including Wells Fargo and Citigroup, investor sentiment was dampened, leading to significant losses.

Goldman Sachs and JPMorgan Chase, despite surpassing earnings expectations, experienced notable stock declines. The S&P 500 banking index fell 1.4%, indicating the market's cautious outlook even amidst strong quarterly performances.

Investor attention is now turning to an upcoming speech by Federal Reserve Chair Jerome Powell for clues on the central bank's monetary policy path, amid delayed government data releases due to an ongoing shutdown. Tech stocks also faced declines, adding to the downward pressure on the market.

(With inputs from agencies.)