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Data: FactSet; Chart: Chris Canipe/Axios

The financials were Fed day's biggest losers, as bank stocks saw big losses on big trading volumes.

What's happening: Bank of America was the 2nd most actively traded stock in the S&P 500, with 81 million shares changing hands, per FactSet — well above the 3-month average volume of 67 million shares. The stock fell 3.4%.

Meanwhile, Goldman Sachs was the biggest decliner in the Dow on Wednesday. Shares fell 3.38% after the Fed said it would hold rates steady and signaled the end of rate hikes for the rest of the year.

  • More than 5.2 million Goldman shares were traded, the highest trading volume since Jan. 31. That was the day after the Fed first introduced the word "patient" in its FOMC statement.

JPMorgan and Citi also saw slightly higher trading activity than in previous days this week, with 14 million and 17 million shares exchanged, respectively.

  • Only 2 stocks in the S&P 500's financial sector closed in the green: Ameriprise Financial and MSCI.

The big picture: A low-interest rate environment is seen as negative for bank stocks.

  • "Lower interest rates ... [do] hurt banks in terms of their net interest margins and their profitability on new loans ... [and] that's probably the concern more on a bank’s earnings fundamentals in terms of potential slowing in earnings growth," Paul Eitelman, a strategist at asset management firm Russell Investments, told Bloomberg.

Go deeper: Dissecting Goldman Sachs' $100 million pullout from social impact ETF

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Report: Goldman to settle DOJ probe into Malaysia's 1MDB for over $2B

Illustration: Lazaro Gamio/Axios

Goldman Sachs has agreed with the Department of Justice to pay over $2 billion for the bank's role in Malaysia's multi-billion dollar scandal at state fund 1MDB, Bloomberg first reported.

Why it matters: The settlement, expected to be announced within days, would allow Goldman Sachs to avoid a criminal conviction in the U.S. over the bribery and money laundering scandal that saw three of its former bankers banned for life from the banking industry by the Federal Reserve Board.

Trump threatens to post "60 Minutes" interview early after reportedly walking out

Trump speaks to reporters aboard Air Force One, Oct. 19. Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted on Tuesday that he was considering posting his interview with CBS' "60 Minutes" prior to airtime in order to show "what a FAKE and BIASED interview" it was, following reports that he abruptly ended the interview after 45 minutes of taping.

Why it matters: Trump has escalated his war on the media in the final stretch of his re-election campaign, calling a Reuters reporter a "criminal" this week for not reporting on corruption allegations about Hunter Biden and disparaging CNN as "dumb b*stards" for the network's ongoing coronavirus coverage.