Big bank profits decline as deal-making, mortgages slow

FILE - A Wells Fargo office is shown, Wednesday, Jan. 13, 2021 in New York. Four big banks reported noticeable declines in their first quarter profits on Thursday, April 14, 2022 as the volatile markets and war in Ukraine caused dealmaking to dry up and a slowdown in the housing market caused the mortgage market to slow. The results from Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo were similar to the results out of JPMorgan Chase, which on Wednesday reported a double-digit decline in profits for similar reasons.(AP Photo/Mark Lennihan, File)