12:09 PM EDT, 10/14/2025 (MT Newswires) -- US equity indexes traded mixed after midday Tuesday as quarterly results from mega-cap financials failed to offset the impact of an escalating trade feud with China.

The Nasdaq Composite slumped 0.9% to 22,482.1, with the S&P 500 down 0.5% to 6,623.3 and the Dow Jones Industrial Average little changed at 46,055.7. All three benchmarks were off intraday lows.

Consumer staples and utilities led the gainers intraday, while technology and consumer discretionary emerged as the steepest decliners.

Goldman Sachs ( GS ) shares fell 2.8% intraday, among the worst performers on the Dow, after the bank's higher Q3 operating expenses likely overshadowed otherwise positive earnings and revenue results.

JPMorgan Chase & Co. ( JPM ) was down 1.5% intraday, also among the laggards on the Dow, after reporting Q3 results.

Wells Fargo ( WFC ) shares jumped 5.9% intraday, the top gainer on the S&P 500, after the company reported a stronger-than-expected gain in Q3 revenue and earnings.

On the trade front, China's Commerce Ministry imposed sanctions on five US subsidiaries of South Korean shipbuilder Hanwha Ocean, it said Tuesday. The sanctions were imposed to counter probes that the US has launched against China's maritime, logistics, and shipbuilding industries, and Hanwha's US units allegedly "supported the US government's investigations," the ministry said. Hanwha didn't immediately respond to a request for comment by MT Newswires.

"The world's two largest economies began imposing additional port fees on ocean shipping firms, reigniting trade worries," a research note from D.A. Davidson said.