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Stock Alert: JPMorgan Loses 4%

Shares of JPMorgan Chase & Co. (JPM) are down more than 4% today, continuing its downtrend from the beginning of this week.

Yesterday, the company reported first-quarter results with net income plunging 69% at $2.865 billion from $9.179 billion last year as the bank has set aside $8.285 billion for credit losses during Covid-19 pandemic, which is up $6.8 billion from the prior year.

Net revenue was down 3% year-over-year at $29.1 billion.

JPMorgan Chase shares are currently trading at $91.32, down nearly 11% in the last three trading sessions. It has traded in the range of $76.91- $141.1 in the past one year.

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