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Why JPMorgan Chase Stock Wilted on Wednesday
The Motley Fool·
JPMorgan Chase stock fell over 2% on Wednesday following CEO Jamie Dimon's remarks at the Bernstein Strategic Decisions Conference. Dimon expressed caution about the capital markets segment, citing historical patterns of exuberance in 1972, 1986, 2000, and 2007. The bank also announced higher-than-expected annual expenses of nearly $106 billion (up $1 billion from previous guidance) and signaled plans to potentially deploy $10-20 billion on acquisitions in the coming years.
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