Reported 29 days ago
JPMorgan Chase's stock price dropped more than 5% after CEO Daniel Pinto warned that projections for the bank's net interest income (NII) had become overly optimistic, citing anticipated easing of interest rates. The comment raised concerns about potential earnings pressure in the coming year as the Federal Reserve is expected to reduce its policy rate, leading to smaller increases in interest income. This market reaction reflected broader worries about the economy and political climate, marking JPMorgan's worst one-day decline since June 2020.
Source: YAHOO