* JPMorgan, Goldman Sachs earnings jump
* Japan airlines ground Dreamliners after emergency landing
* Dell buyout talks advance, shares slip
* Dow off 0.5 pct, S&P down 0.3 pct, Nasdaq off 0.1 pct
By Rodrigo Campos
NEW YORK, Jan 16 U.S. stocks fell off five-year
highs on Wednesday as concerns about global economic growth
offset strong bank results and shares of Boeing weighed
on the Dow after two Japanese airlines grounded their Dreamliner
Goldman Sachs shares hit an 18-month high as its
earnings nearly tripled on increased revenue from dealmaking and
lower compensation expenses, while JPMorgan Chase said
fourth-quarter net income jumped 53 percent and earnings for
2012 set a record.
JPMorgan shares were last down 0.8 percent at $46 and
Goldman added 2 percent to $138.26.
Concern about global economic growth was weighing on the
markets, said Peter Jankovskis, co-chief investment officer at
OakBrook Investments in Lisle, Illinois.
A slow economic recovery in developed nations is holding
back the global economy, the World Bank said on Tuesday, as it
sharply scaled back its forecast for world growth in 2013 to 2.4
percent from an earlier forecast of 3.0 percent.
Shares of Dow component Boeing fell 3.5 percent to $74.25 on
concerns about the safety of its new Dreamliner passenger jets.
Japan's two leading airlines grounded their fleets of 787s after
an emergency landing, adding to safety concerns triggered by a
ream of recent incidents.
"It's certainly going to pull averages down, given Boeing's
large market cap, but I don't see it as having broader market
implications," Jankovskis said.
The Dow Jones industrial average fell 61.79 points or
0.46 percent, to 13,473.1, the S&P 500 lost 4.39 points
or 0.3 percent, to 1,467.95 and the Nasdaq Composite
dropped 2.72 points or 0.09 percent, to 3,108.06.
Losses on Nasdaq were limited by gains in Apple
shares, which were up 2 percent at $495.75.
Talks to take Dell Inc private were at an advanced
stage, with at least four major banks lined up to provide
financing, two sources with knowledge of the matter told
Reuters. Shares fell 3.6 percent to $12.69 after jumping more
than 21 percent over the past two sessions.
U.S. consumer prices were flat in December, pointing to
muted inflation pressures that should give the Federal Reserve
room to prop up the economy by staying on its ultra-easy
monetary policy path.