JPMorgan Forecasts 20% Drop In Trade Revenues, Stock Slides
Shares of JPMorgan Chase & Co. (NYSE:JPM) are down 2.6% today after announcing that second quarter trade volume would be down sharply from 2Q13 levels, bringing the investment bank’s trade revenues down with it. JPM warned investors to expect a 20% drop in trade revenue citing “a continued challenging environment and lower client activity levels,” reports Hugh Son for Bloomberg.
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