Global markets fell on Friday after a big surprise trading loss at JPMorgan Chase shook investor confidence, while political chaos in Greece continued to cast uncertainty over its future in the euro currency bloc.
JPMorgan, the largest U.S. bank, said Thursday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.
The company's stock plunged almost 7 percent in after-hours trading, and the unexpected loss at one of the world's most venerated banks undermined investor confidence. British banks were hit hard - Barclays, which has a large investment banking arm, was the biggest loser in London trading, down 2.9 percent by midmorning.
Read more: JPMorgan loss another headache for markets - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff
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