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Wall Street drops as JPMorgan leads bank stocks lower

Reuters 

By Sruthi Shankar(Reuters) - Banks led a slide in U.S. stocks on Friday, as results from big lenders including JPMorgan failed to enthuse investors keeping a wary eye on Russia's plan to consider banning some U.S. imports.Shares of the biggest U.S. bank by assets dropped 2.6 percent, overturning an initial gain in premarket trading when the bank reported a record quarterly profit that fell slightly short of expectations.Wells Fargo sank 3.1 percent, also erasing initial gains, after the bank said it may have to pay a penalty of $1 billion to resolve investigations.Citigroup and the S&P banks ...

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First Published: Fri, April 13 2018. 22:29 IST
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