12 May 2012: JP Morgan’s shock losses see markets retreat

  • Stocks fall on JP Morgan’s losses, Commodities also finish in red: JP Morgan’s surprise trading losses of $2bn saw markets retreat through most of the session yesterday. This saw JP’s stock fall over 9%.
  • Stocks: FTSE All World was down 0.4% while FTSE Eurofirst lost 1% and FTSE Asia Pacific lost 1.1%; S&P 500 finished 0.3% lower ; FTSE 100, however, added 0.5% to finish at 5575
  • Currencies: Euro is seeing some movement and is at $1.294
  • Debt: US 10-years and Bunds are the ‘safe debt choices’ and yields have dropped to 1.84% and 1.52% respectively; Spain’s yields are up again at 6.01%
  • Commodities: Brent Crude has fallen to $112.26/barrel; Copper lost 1% to finish at $3.66/pound while Gold ended the session at $1579
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