JPMorgan Chase & Co. tumbled as much as 5 percent, the most in 17 months, after reporting first- quarter profit that fell short of analysts’ estimates on lower revenue from fixed-income trading and mortgages.
JPMorgan Chase & Co., the biggest U.S. bank, said first-quarter profit fell 19 percent on lower revenue from fixed-income trading and mortgages, themes that may be repeated across Wall Street next week. The shares declined 2.9 percent.
JPMorgan Chase & Co . had more Japanese holdings than any U.S. lender and Citigroup Inc . counted Japan’s government among its biggest debtors before last week’s earthquake struck, according to KBW Inc.
Antonio Guglielmi was in Italy watching a dull, tied-at-zero soccer game between AC Milan and S.S. Lazio of Rome, his hometown, at the beginning of February when his mind wandered to the subject of Europe’s banks. That’s something he thought about every day as a financial company analyst at Milan-based Mediobanca SpA.