New York, January 20, 2026, 18:58 EST — After-hours
- Goldman Sachs shares slipped roughly 1.9% in after-hours trading following a risk-off session in the U.S.
- Bank stocks stayed under pressure as Washington’s same-day deadline loomed for a proposed 10% cap on credit-card interest rates.
- Goldman Sachs is involved in a new Qatar Investment Authority plan aiming to raise up to $25 billion, while an analyst has raised their target.
Goldman Sachs shares slipped 1.9% to $943.37 in after-hours Tuesday, fluctuating between $938 and $963 during the session amid a broader market sell-off. Trading volume hovered around 2.6 million shares, matching its usual level.
Shares slipped as investors awaited clarity on whether the Trump administration’s Tuesday deadline to enforce a 10% cap on credit card interest rates would turn into formal policy or fade without new legislation. JPMorgan dropped 3.1%, Citigroup tumbled 4.4%, while Goldman and Morgan Stanley declined 1.9% and 3.7%, respectively. Brian Jacobsen, chief economic strategist at Annex Wealth Management, described the situation as “an overhang” that might ease quickly if the move ends up as more of a signal to Congress than an executive order. (Reuters)
Goldman also dropped fresh company news, announcing the Qatar Investment Authority aims to pour up to $25 billion into Goldman-managed funds and co-investment projects under a new deal. QIA CEO Mohammed Saif Al-Sowaidi described the expanded tie-up as a source of “premium deal flow” in sectors like AI, fintech, digital infrastructure, and private credit. Goldman, in turn, plans to “meaningfully” boost its headcount in Doha. (Reuters)
Bank news hit amid a tough session for U.S. stocks, with Wall Street suffering its steepest single-day drop in three months after President Donald Trump revived tariff threats targeting parts of Europe, shaking investor confidence. The S&P 500 dropped 2.06%, the Nasdaq lost 2.39%, and the CBOE Volatility Index ended at its highest point since late November. Jamie Cox of Harris Financial Group noted he wasn’t seeing signs that investors were panicking. (Reuters)
RBC Capital lifted its price target on Goldman Sachs to $1,030 from $900 but held onto a Sector Perform rating. The price target reflects where the analyst sees the stock heading, while Sector Perform means Goldman is expected to move in line with its peers. RBC’s Gerard Cassidy called Goldman a “preeminent global investment bank,” highlighting its strong capital base and ongoing reduction in share count. (TipRanks)
Goldman is still hovering near its recent peak despite Tuesday’s dip. The stock closed roughly 4% shy of its 52-week high of $984.70, reached on January 16. Tuesday marked its second day in a row slipping lower, though volume stayed above the 50-day average, according to MarketWatch data. (MarketWatch)
Goldman’s tie-up with Qatar feeds into a broader investor question: can steady, fee-heavy asset-management growth balance out the swings in trading and dealmaking during volatile periods? Co-investments and anchor commitments might boost fundraising, but their impact on earnings often comes irregularly.
Two clear risks could trip up this trade. Should the credit-card cap shift from political talk to actual enforcement, banks will have to slash profit forecasts quickly, sending the sector down—and pulling in firms without much direct exposure. Plus, if tariff news keeps swirling, it might boost trading desk activity but also paralyze boardrooms, stalling M&A and capital market deals.
Traders now turn their focus to Washington for signs on the fallout from Tuesday’s credit-card cap deadline, plus the Federal Reserve’s policy meeting scheduled for January 27–28. (Federal Reserve)
Goldman faces its next test almost immediately: how it performs in the upcoming regular session as investors gauge whether Tuesday’s bank selloff was just a blip or the opening move of a rougher stretch for financials.
