U.S. financial giant Goldman Sachs' final profit fell 3% in the three months to last month.
The reason for the decline in profits was a decline in trading income on bonds and stocks in March. Four major banks, including JPMorgan Chase, reported strong earnings. But their total expenses for bad debts increased 4.3 times compared to the same period last year, showing that they are bracing for the aftermath of financial instability and economic slowdown. The effects of a series of bank failures are beginning to be felt in some financial institutions' financial results.