JPMorgan Chase & Co shares fell the most in more than four years, leading bank stocks lower, after president Daniel Pinto said analysts were being too optimistic in projecting next year’s expenses and net interest income.
At 4pm in New York, the bank’s shares were 5.2 per cent lower to $US205.56; they earlier fell near 7 per cent. Even with the overnight pullback, the shares have rallied more than 19 per cent so far this year.
