Now $5 billion lost at JP Morgan! Dominoes are falling….


Via: Business Insider:

When JPMorgan first announced that its CIO office had blundered into a huge trading loss, the number was pegged at $2 billion, though the company said it could go higher.

loss later reported to be $3 billion…

And now…

$5 billion or more?

From WSJ:

The nation’s largest bank has said publicly that its losses on the trades have surpassed $2 billion, and people familiar with the matter have said they could over time reach $5 billion.

But the losses could be even bigger if the company sells its positions into a market that has turned against its positions, some traders say. Improvements in the markets could slice the bank’s losses.

More here at Business Insider

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