BUZZ-US big banks slide as Trump announces reciprocal tariffs

Reuters04-03
BUZZ-US big banks slide as Trump announces reciprocal tariffs

** Shares of U.S. big banks fall in extended trading after President Donald Trump announces reciprocal tariffs

** Citigroup C.N down 3.6%, JPMorgan Chase JPM.N falls 3.6%, Goldman Sachs GS.N slides 4.1% and Morgan Stanley MS.N drops 4.5%

** Bank of America BAC.N and Wells Fargo WFC.N down 3.6% and 4.1%, respectively

** Trump says he would impose a 10% baseline tariff on all imports to the U.S. and higher duties on some of the country's biggest trading partners

** Several U.S. banks may lower their profit estimates this earnings season due to weak consumer sentiment and underwhelming dealmaking activity, according to Raymond James, marking a sharp reversal from the post-election optimism that boosted markets

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))

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