JP Morgan Chase, the biggest US bank, has revealed a surprise trading loss of 2 billion dollars on complex investments made by its traders.
Overall, after accounting for other gains, losses at its chief investment office are estimated to come in at 800 million dollars in the second quarter.
Chief executive Jamie Dimon says the loss could be as big as one billion dollars.
The trading loss, revealed in a regulatory filing, is expected to hurt JPMorgan's overall earnings in the quarter, and will come as an embarrassment to the bank.
comments powered by Disqus
All feeds
