Banks hit by JPMorgan; Wall Street ends week lower - Yahoo! News: " Shares of U.S. banks slumped on Friday after JPMorgan said it lost billions of dollars on bad trades, but the overall market ended only modestly lower, thanks to gains in technology shares.
JPMorgan Chase & Co , the largest U.S. bank by assets, dropped 9.3 percent on record high volume after it disclosed losses on derivatives trades. The news sparked fears that the problems could reverberate through the banking sector. The KBW bank index <.BKX> fell 1.2 percent.
"JPMorgan will become a political issue. This will increase regulations on banks, and the overhang on large banks will last for awhile," said Tim Ghriskey, who oversees about $2 billion as chief investment officer of Solaris Group in Bedford Hills, New York.
JPMorgan's shares fell to $36.96, and trading volume was around 216.7 million shares on Friday."
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Dawgen Global is an integrated multidisciplinary professional service firm . The firm is staff by a Global Team of Professionals spanning several disciplines. We are integrated as one firm and provide several professional services including: audit,accounting ,tax,IT,Risk, HR,Performance, M&A,corporate recovery and other advisory services Caribbean Region Head Office : Dawgen Towers 47-49 Trinidad Terrace Kingston 5 Tel: (876) 9292518 | (876) 9265210 Email: info@dawgen.global
Saturday, May 12, 2012
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