Huge banks sent a clear message in first-quarter profits Tuesday: This recession is going to be bad.
JPMorgan Chase & Co. and Wells Fargo & Co. set aside billions of extra dollars to prepare yourself for a flood of clients to default on their loans as the coronavirus pandemic pounds the economy. That sunk the banks’ quarterly earnings.
JPMorgan …
%.
source https://jobsearchtips.net/jpmorgan-wells-fargo-profits-tumble-as-banks-brace-for-an-economic-downturn/
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