J.P. Morgan shakes up management, pulls down banks

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J.P. Morgan shakes up management, pulls down banks
from MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- Shares of J.P. Morgan Chase & Co. again sat near the top of the biggest-losing financial stocks on Monday as the company shook up senior management and continued to do damage control after reporting a surprise $2 billion trading loss last week. J.P. Morgan shares fell 2.1% on Monday, weighing on the other financials in the Dow Jones Industrial Average and helping the whole index fall about 100 points. Bank of America Corp. , the other bank in the Dow, fell 1.4%, while specialty finance firm American Express Co. shed 0.7% and Travelers Cos. Inc. she0.2%. The Financial Select Sector SPDR ETF , which tracks the financials in the S&P 500 , fell 1.1%.