The Joplin Globe, Joplin, MO


May 11, 2012

Banks lead Wall Street lower on JPMorgan loss

NEW YORK — Financial stocks are leading the market lower in early trading after JPMorgan disclosed a huge trading loss.

The bank reported a $2 billion loss at a London trading unit after the close of markets Thursday. JPMorgan is down nearly 9 percent in the first minutes of trading.

The Dow Jones industrial average fell 70 points to 12,785 shortly after the opening bell Friday. The Standard & Poor’s 500 is down four points at 1,353.

The Nasdaq composite, which mainly follows technology stocks, edged up two points to 2,936.

The news of huge losses at the largest bank in the U.S. pulled down other financial stocks.  Morgan Stanley fell nearly 5 percent. Goldman Sachs is down 4 percent.


Text Only

In an effort to curb prostitution, St. Louis police are targeting, and perhaps humiliating, the "johns" who use the services. Postcards mailed to the homes of those charged with trying to pick up prostitutes will offer a reminder about spreading sexually transmitted diseases, along with listing the court date. Do you think this is a good approach?

A. Yes.
N. No.
     View Results
Twitter Updates
Follow us on twitter
NDN Video
Tributes Mark Boston Bombing Anniversary Raw: Kan. Shooting Suspect Faces Judge US Supports Ukraine's Efforts to Calm Tensions Suspect in Kansas Shootings Faces Murder Charges Ukraine: Military Recaptures Eastern Airport Raw: Storm Topples RVs Near Miss. Gulf Coast NASA Showcases Lunar Eclipse Pistorius Cries During Final Cross-Examination The Boston Marathon Bombing: One Year Later Michael Phelps Set to Come Out of Retirement First Women Move to Army Platoon Artillery Jobs Sex Offenders Charged in Serial Killings Police: Woman Stored Dead Babies in Garage OC Serial Murder Suspects May Have More Victims Family: 2 Shot in Head at Kan. Jewish Center Raw: Horse Jumping Inspires 'Bunny Hop' After Attack, Officials Kill 5 Bears in Florida Popular Science Honors Year's Top Inventions ND Oil Boom Attracting Drug Traffickers