JPMorgan Chase posts $2 billion loss
/ Friday, May 11, 2012
JPMorgan Chase, the largest bank in the US, has lost $US2 billion ($A1.98 billion) in a trading portfolio designed to hedge against risks the bank takes with its own money.
The bank’s stock fell more than 6% in late electronic trading on Thursday after the loss was announced.
Other bank stocks, including Citigroup and Bank of America suffered heavy losses as well.
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