JPMorgan Misses Quarterly Profit Estimates Amid Slowing Deal Activity
JPMorgan Chase missed quarterly profit estimates for the first time in nearly three years due to reduced dealmaking and lower bond trading amid market volatility and economic uncertainty. Investment banking fees fell 8% from the previous quarter but rose 14% year-over-year. Markets division revenue grew 15%, driven by a 49% surge in equity markets, while fixed-income trading declined 4%.
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