Thanks to JPMorgan’s shock loss last night, there are two fears: One is that other banks will have to report similar losses. The other fear is that this will lead to even more regulation, and stricter interpretations of post-crisis regulations (like the Volcker rule).
US banks are all set to open lower, and banks in Europe are going down as well.
Here’s the Euro Stoxx Bank index, down 1.6% intraday.
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