Goldman Sachs EARNINGS Down 70 Percent

Goldman Sachs said today third quarter earnings fell 70 percent, its sharpest decline since going public in 1998. Net income dropped $854 million ($1.81/share), from $2.85 billion ($6.13/share), beating expectations of $1.71/share. Net revenue dropped to $6.04 billion from $12.3 billion. Morgan Stanley reports tomorrow.