J.P. Morgan Chase shares down 7%
'Whale' of loss hits futures
May 11, 2012, 7:58 a.m. EDT
Stock futures sunk by ‘London Whale’
Bank stocks in focus as J.P. Morgan Chase falls 7% in premarket
By William L. Watts, MarketWatch
FRANKFURT (MarketWatch)—U.S. stock index futures pointed to a lower start for Wall Street on Friday, sunk by J.P. Morgan Chase & Co.’s revelation of a $2 billion trading loss attributed to a trader known as the “London Whale.”
Futures on the Dow Jones Industrial Average fell 55 points, or 0.4%, to 12,779.
S&P 500 Index futures /quotes/zigman/900181 SPM2 -0.82% dropped 6.3 points to 1,351.3, while Nasdaq 100 futures declined 4.5 points to 2,614.25.
Bank stocks were expected to be in focus.
More: http://www.marketwatch.com/story/stock-futures-sunk-by-london-whale-2012-05-11?dist=beforebell