JPMorgan Erases Stock Drop Fueled by London Trading Loss
This article is for subscribers only.
JPMorgan Chase & Co., the lender that plunged as much as 24 percent in the month after disclosing a multibillion-dollar trading loss, has erased that decline.
The bank’s stock climbed 3.7 percent to $41.40 yesterday in New York, eclipsing the $40.74 closing price of May 10, when Chief Executive Officer Jamie Dimon announced what was then a trading loss of about $2 billion at the chief investment office in London. The loss this year now stands at $5.8 billion.