Financials Down On Trading Revenue Warnings -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies fell after warnings of a slowdown on trading desks in the latest quarter.

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Bank of America Chief Executive Brian Moynihan said at a banking conference in New York on Tuesday that trading revenue is likely to fall around 15% in the fourth quarter compared with the year-earlier period. Similarly, JPMorgan Chase Chief Financial Officer Marianne Lake also said trading revenue is expected to fall 15% in the quarter, addressing the same conference.

Deutsche Bank received a subpoena earlier in the fall from U.S. special counsel Robert Mueller's office related to the lender's business with President Donald Trump, The Wall Street Journal reported.

--Rob Curran, rob.curran@dowjones.com

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December 05, 2017 16:31 ET (21:31 GMT)