Shares of banks and other financial institutions fell after disappointing earnings from the largest U.S. bank by assets, and warnings about central-bank independence.
JPMorgan Chase shares slid after the New York bank logged a 7% drop in quarterly profit despite revenue growth. Chief Executive Jamie Dimon warned that geopolitical risks remained elevated.
Top global central bankers said they stand in "full solidarity" with Fed Chair Jerome Powell, an unprecedented step that underlines how seriously they view the threat to the independence of the U.S. institution.
Bank of New York Mellon's chief executive criticized the Trump administration's pressure on the Fed in a media call after the reported record revenue for 2025.
U.S. Bancorp has struck a deal to buy BTIG, a financial-services firm specializing in investment banking, institutional sales and trading, research and prime brokerage, for up to $1 billion in cash and stock.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-13-26 1749ET
