GS Analysis: Goldman Sachs Breaks Below Key Technical Support as a 7% Single-Day Plunge Tests the Bull Case for Wall Street's Premier Investment Bank
Goldman Sachs (NYSE: GS) just experienced one of its most dramatic single-session declines in recent memory, plunging 7.5% to $859.57 on February 28, 2026 — erasing roughly $21 billion in market capitalization in a single day. The stock now trades 13% below its 52-week high of $984.70, having broken below the $875 technical support level that Barron's flagged as critical just one day earlier. The selloff comes despite Goldman posting its best fiscal year since the post-pandemic trading boom. Full-year 2025 net income reached $17.2 billion across four quarters of double-digit EPS, and the firm's asset management division is bucking the private credit redemption wave that has rattled competitors. At 16.76x trailing earnings, the stock is now cheaper than it was during the Q1 2025 rally — yet the market is clearly pricing in risks that the income statement alone doesn't capture. For investors who've watched Goldman more than double off its $439.38 52-week low, the question is straightforward: is this a healthy pullback in a secular uptrend, or the beginning of a deeper correction driven by AI disruption fears and a broader risk-off rotation in financials?