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Stock impact report

Here's Why Bank Stocks Are Getting Crushed by Tariffs [Yahoo! Finance]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
As of 1 p.m. ET, the S&P 500 (SNPINDEX: ^GSPC) was lower by nearly 4% for the day, and the tech-heavy Nasdaq Composite (NASDAQINDEX: ^IXIC) was doing even worse, down by 5%. Bank stocks were one of the hardest-hit stock market sectors. Megabank JPMorgan Chase (NYSE: JPM) was lower by 5.5%, consumer-focused Wells Fargo (NYSE: WFC) was down by 7.4%, and Citigroup (NYSE: C) fell by more than 10%. At first glance, the big U.S. banks might not seem to have too much to worry about from tariffs. After all, they don't really import anything, nor do they sell any taxable products in international markets (although Citigroup does have the most international exposure of the three, which could explain why it is the worst performer). However, banks could be impacted by tariffs more than you might think. The performance of a bank is highly dependent on the health of the U.S. economy. If a recession hits, for example, consumers spend less, which means lower loan volumes, and it also tends to l Show less Read more
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