Goldman Sachs sees slightly softer fixed income, currencies, commodities business, higher costs

The chief of Goldman Sachs said on Wednesday he expects the bank's fixed-income, currencies and commodities (FICC) business to be slightly softer in the third quarter compared to very strong performance for its equities business, prompting a slump in its shares.

Chief Executive David Solomon also cautioned investors to expect a much more muted third quarter from the perspective of the firm's investment line after significant activity in the second quarter.

"Our equity business continues to be very strong on a relative basis. FICC has been a little bit softer on a relative basis, but there's still a few weeks left in September," he told the Barclays' global financial services conference.

The Wall Street bank's shares fell almost 4%, underperforming other bank shares which were also weaker, reacting to the Federal Reserve's move to hike interest rates.