NEW YORK, Aug. 12 (Xinhua) -- Wall Street moved mixed Tuesday as JPMorgan Chase & Co. rekindled investors' concerns about the financial sector after reporting larger-than-expected losses and oil prices lost ground.
JPMorgan said late Monday it has incurred wider losses in its mortgage holdings in the third quarter than in the second quarter. The company said that it has lost 1.5 billion U.S. dollars since July due to the troubles in the credit markets, comparing with losses of 1.1 billion dollars in the second quarter.
Adding to jitters about financials, Goldman tumbled as DeutscheBank AG and Oppenheimer & Co. reduced earnings estimates for the biggest U.S. securities firm. Moreover, Wachovia, the fourth-largest U.S. bank, increased the loss to 9.11 billion dollars from8.86 billion dollars for the second quarter.
Light, sweet crude fell 1.2 dollars to 113.25 dollars a barrel on the New York Mercantile Exchange, though BP announced that it had shut down an oil pipeline that runs through Georgia as a precautionary measure due to the conflict between Georgia and Russia. Oil has fallen more than 30 dollars so far from its July 11 high of 147.27 dollars.
The Dow Jones fell 63.91 to 11,718.44. Broader indexes traded mixed. The Standard & Poor's 500 index decreased 5.70 to 1,299.62,and the Nasdaq rose 2.78 to 2,442.73.
