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US stocks dropped on Friday as investors digested the first batch of bank earnings.
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JPMorgan, Citigroup, and Wells Fargo all reported first quarter earnings that beat estimates.
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“There seems to be a large number of persistent inflationary pressures, which may likely continue,” JPMorgan CEO Jamie Dimon said.
US stocks dropped on Friday as investors digested the first batch of first-quarter earnings with the major banks reporting results.
JPMorgan, Wells Fargo, and Citigroup all reported first-quarter earnings that beat analyst estimates, though the beats weren’t too impressive as shares of JPMorgan and Wells Fargo declined while Citigroup stock jumped about half of a percent.
JPMorgan CEO Jamie Dimon warned that while the stock market is in a…
