JPMorgan stock falls over 5% due to lower interest rate forecasts and market concerns.

From Investing.com: 2024-09-10 19:06:29

JPMorgan Chase shares dropped over 5% as interest rate forecasts were adjusted downwards by President Daniel Pinto. The Federal Reserve is expected to lower rates, impacting net interest income. Stock volatility is expected due to economic and political concerns. JPMorgan’s profit rose in the second quarter, with investment banking fees expected to increase.

Despite a record profit in the second quarter, JPMorgan’s shares fell significantly due to revised interest income forecasts and market worries. Revenue from investment banking was strong, but trading revenue is expected to be flat or slightly up in the third quarter. Bank shares saw a decline after the Fed proposed changes to bank capital rules.



Read more at Investing.com: JPMorgan stock slumps as interest income warning rattles market By Reuters