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JP Morgan's USD 2-bn loss sends Wall Street lower

MARKETS-USA-STOCKS:JP Morgan sends Wall Street lower

May 11, 2012 / 08:28 PM IST

US stocks fell at the open on Friday after JPMorgan Chase & Co revealed a trading loss of at least USD 2 billion from a failed hedging strategy, dragging bank shares lower.

The Dow Jones industrial average was down 69.63 points, or 0.54%, at 12,785.41. The Standard & Poor's 500 Index was down 8.09 points, or 0.60%, at 1,349.90. The Nasdaq Composite Index was down 11.95 points, or 0.41%, at 2,921.69.

first published: May 11, 2012 07:16 pm
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