Earnings season is underway as the major banks begin reporting. JPMorgan Chase (JPM) falls as CEO Jamie Dimon warns that economic risks are “shifting below the surface,” while Goldman Sachs (GS) posts a significant revenue beat and Bank of America (BAC) reports stronger trading revenue. In tech, chip stocks move higher following Monday’s selloff in SK Hynix, while IBM plummets after releasing preliminary second-quarter earnings. Alex Coffey breaks down the biggest market moves and earnings takeaways.