JPMorgan Leads Wall Street Lower on Trading-Slump Warning
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JPMorgan Chase & Co. led shares of Wall Street banks lower, dropping the most in almost a month, after warning that a deepening trading slump may last through the second quarter.
Shares of the company fell 2.7 percent to $54.08 at 9:58 a.m., the worst performance in the 83-company Standard & Poor’s 500 Financials Index. Morgan Stanley, Goldman Sachs Group Inc., Citigroup Inc. and Bank of America Corp. all lost at least 1.3 percent.