US markets close lower pushed by underperforming Goldman Sachs

Stocks in the US closed on Tuesday lower following a tough day for Goldman Sachs amid numerous poor earnings reports. The slowing day continued the cooling off of markets after initial excitement about a Donald Trump presidency died down amid congressional procedure and political infighting.

The Dow Jones Industrial Average fell 0.55% or 113.64 points to end the day at 20,523.28; the Nasdaq fell 7.32 points, or 0.12%, to finish Tuesday at 5,849.47; the S&P 500 fell 0.29%, or 6.82 points, to end at 2,342.19.

Goldman Sachs saw the most dramatic drop after less-than-ideal first quarter results led stock to drop 4.72% by the end of the day.

Netflix (NFLX) also ended lower, -2.64%, after worries that the subscription streaming service is unable to attract many new subscribers.

Markets in the US have stayed slightly lower as fears over Trump's ability to get his agenda through congress were solidified with the attempt at healthcare replacement and comes amid concerns that the Republican tax reform plan is already starting to stall.

Back in the UK, things saw a better turn with the pound surging against the dollar as Prime Minister Theresa May called for a snap election to take place on 8 June. The election could see the Conservative Party firm up their mandate ahead of potentially rocky Brexit talks.