JPMorgan Forecasts 20% Drop In Trade Revenues, Stock Slides

Shares of JPMorgan Chase & Co. (NYSE:JPM) are down 2.6% today after announcing that second quarter trade volume would be down sharply from 2Q13 levels, bringing the investment bank’s trade revenues down with it. JPM warned investors to expect a 20% drop in trade revenue citing “a continued challenging environment and lower client activity levels,” reports Hugh Son for Bloomberg.

Last month’s earnings miss was due to fixed income

The drop in activity may partially be a sign that investors are starting to look for better opportunities abroad after a healthy bull run...