Across Wall Street, analysts expressed surprise over the dive, noting the bank – which hasn’t been charged with wrongdoing – can probably stomach any payment that might be extracted in the case. Instead, some said, the decline appeared to be a combination of concern over the persistently harsh spotlight and uncertainty about what’s to come. It was also a generally bad day in US markets.
SINGAPORE (Nov 13): Goldman Sachs Group Inc’s reputation is facing one of its biggest crises of the decade – and now its shares are, too.
Since prosecutors implicated a trio of Goldman Sachs bankers in a multibillion-dollar Malaysian fraud early this month, investors have endured an almost daily drip of news on the firm’s ties to the scandal. The barrage culminated Monday as the country’s finance minister demanded a “full refund,” tipping Goldman’s shares into their biggest drop since 2011.
