June 28, 2012 at 13:49 PM EDT
Bank Stocks Plunge as LIBOR Probe Widens
Big banks are falling hard this afternoon, responding to a slew of negative news in the U.S. and Europe. JPMorgan Chase (JPM) could sustain losses as high as $9 billion from its inept “London Whale” trade, the New York Times reported, up from initial estimates of $2 billion. A CNBC report questioned the $9 billion [...]
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