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However, traders are fearing that another rout may be around the corner if company results fall short of expectations this month. JPMorgan Chase & Co, Citigroup Inc, Morgan Stanley and Wells Fargo & Co are set to report their earnings this week and may give an insight into how corporate America is coping with inflation and rate hikes. The S&P 500 banks index was down 1.1% on worries that an increase in loan loss reserves and a decline in M&A activity could hurt second-quarter profits at big U.S. Las Vegas Sands Corp, Wynn Resorts Ltd and Melco Resorts & Entertainment Ltd were down between 9.6% and 13% and babu88 drove a 1.4% fall in the S&P 1500 Hotels Restaurant and Leisure index.