Learn more

Did one comment just send JPMorgan Chase & Co. (NYSE:JPM) shares to fall by 7.5%? It appears so. JPMorgan Chief Operating Officer Daniel Pinto tempered analyst forecasts on next year’s expenses and net interest income (NII) at an industry event Tuesday. The current NII consensus of $89.5 billion is “not very reasonable” in the light of interest-rate forecasts, he said according to Bloomberg. NII “will be lower,” he added. As a result, the stock took its biggest tumble since June 2020. But Pinto wasn’t the only bank executive who sounded pessimistic this week. Read Also: M&T Bank To Outperform …

cuu