
The slowdown in the markets and investment activity is weighing on the results of the US banking giant
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JpMorgan Chase is the largest US credit institution. The third quarter results reflect a change from the boom seen in the second quarter.
JpMorgan Chase reports profits lower than Wall Street expectations due to the slowdown in markets and investment activity. The largest US lender reported a profit of $15.31 billion, or $5.57 per share, in the third quarter, against earnings per share forecasts of $5.93.
Revenue rose 8% year over year to $50.17 billion, well below the $51.23 billion estimate.
The results were hit by a 658 million loss on investment securities on the institution's books.
No. 1 Jamie Dimon said in a note that client activity in the bank's markets and investment banking clients softened during the quarter compared to the boom seen in the second quarter.

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