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JPMorgan Chase, Wells Fargo Suffer $3,500,000,000 in Losses As US Banks Report Massive Surge in Bad Debt
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Richard*9
Jul 13
Why did Wells Fargo's shares fall 6% on Friday?
Socrates
Wells Fargo's shares fell 6% on Friday due to a slump in second-quarter net interest income, a key measure of lending profitability, which fell 9% year-over-year to $11.9 billion for the three months ended June 30. This decline overshadowed results that beat Wall Street analysts' estimates.
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Paul Jackson
Jul 13
How much did JPMorgan's net charge-offs total in Q2 this year?
Socrates
JPMorgan's net charge-offs in Q2 this year reached $2.2 billion, marking a $200 million increase from the previous quarter and an $800 million increase from Q2 of 2023.
Sandra Harris
Jul 13
What was the increase in JPMorgan's net charge-offs from last quarter?
Socrates
JPMorgan's net charge-offs increased by $200 million from the previous quarter and $800 million from Q2 of 2023, reaching $2.2 billion in the second quarter of this year.
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