Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link. The Dow Jones Industrial Average ( ^DJI) closed down 326.0 points (-2.1%) at 15,372. During the day, 641.6 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 366.9 million. The NYSE advances/declines ratio closed at 463 issues advancing vs. 2,630 declining with 96 unchanged.
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Holding the Dow back today was Goldman Sachs Group (NYSE: GS), which lagged the broader Dow index with a $4.30 decline (-2.6%) bringing the stock to $159.82. This single loss lowered the Dow Jones Industrial Average by 32.54 points or roughly accounting for 10% of the Dow's overall loss. Volume for Goldman Sachs Group ended the day at 5.1 million shares traded vs. an average daily trading volume of 2.9 million shares.
Goldman Sachs Group has a market cap of $75.16 billion and is part of the financial sector and financial services industry. Shares are down 7.4% year to date as of Friday's close. The stock's dividend yield sits at 1.3%. The Goldman Sachs Group, Inc. provides investment banking, securities, and investment management services, as well as financial services to corporations, financial institutions, governments, and high-net-worth individuals worldwide. The company has a P/E ratio of 10.7, below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Goldman Sachs Group as a buy. Among the primary strengths of the company is its solid stock performance, considering both the consistency and magnitude of the price movement over time. We feel these strengths outweigh the fact that the company has had sub par growth in net income.