Report: Jpmorgan Trading Losses May Reach $9b

Shares of JPMorgan Chase & Co. tumbled in premarket trading Thursday as a published report said that the bank's losses on a bad trade may reach as much as $9 billion - far higher than the estimated $2 billion loss disclosed last month.

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    JPMorgan Chase & Co. is an American multinational investment bank and financial services company headquartered in New York City.In addition to being the largest bank in the United States, JPMorgan is the world's second most valuable bank by market capitalization.. As a "Bulge Bracket" bank, it is a major provider of various investment banking and financial services.
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