JPMorgan Shakes the Financial MarketsMay 16, 2012
The financial sector has had a rough week, sparked by last Friday’s revelation that JP Morgan had posted a $2 billion trading loss on synthetic credit positions held by its Central Investment Office in London.
So is this dip in JP Morgan and the financials a buying opportunity, or is this trading loss just another reason to stay away from the financials? This week Yu-Dee Chang sat down with Seana Smith from Fox Business to give his opinion on the financial sector and the crisis at JP Morgan. His analysis is published in this week’s Fund Watch column.
Read more from Seana Smith from Fox Business: Bank ETFs Take a Beating
What do you think? Is this a problem that JPMorgan can solve, or will this spread to other stocks in the sector?
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