Goldman Is on the Brink of Erasing the Trump Bump
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Goldman Sachs Group Inc. soared in the months after U.S. President Donald Trump’s election in 2016, enriching shareholders and its staff. That so-called Trump Bump is now almost gone.
The stock has tumbled 33 percent from a record high in mid-March, eroded by a broader market slump and troubles specific to the firm. About half of the decline occurred in the past month, as investors worried about the costs and reputational damage the investment bank may incur over its involvement in Malaysia’s 1MDB corruption scandal.