JPMorgan Chase, the biggest US bank, has revealed a surprise trading loss of at least $2bn (£1.2bn) on complex investments made by its traders.
Tag: Trading
Bank Order Led to Losing Trades
J.P. Morgan’s Efforts to Shield Itself From European Market Fallout Prompted Disastrous Bets
J.P. Morgan Chase & Co. told traders several months ago to make bets aimed at shielding the bank from the market fallout of Europe’s deepening mess. But instead of shrinking the risk, their complicated bets backfired into losses of as much as $200 million a day in late April and early May, people familiar with the situation said.
Between Facebook and JPMorgan, Wall St. woes mount
Facebook stock jumped from $38 to as high as $45 in the opening … But small investors, mistrustful of the market, are still pulling money out of stocks.
Most commodity prices fell broadly
Commodity prices fell broadly as a plan to fix Greece’s crippling debt crisis remained far from settled, renewing concerns about global economic growth.
Trading Pick-Up Masks Investment Bank Pain Ahead
A pick-up in trading revenue in the first quarter of 2012 disguises a chilling future for investment banks who need to drastically cull their business under new regulation.