Report: JPMorgan trading losses may reach $9 billion

— Shares of JPMorgan Chase & Co. tumbled 4 percent Thursday morning as a published report said that the bank’s losses on a bad trade may reach as much as $9 billion — far higher than the estimated $2 billion loss disclosed last month.

In May, JPMorgan said the loss came from trading in credit derivatives that was designed to hedge against financial risk.

The New York Times, citing unnamed current and former traders and executives at JPMorgan, said that the losses have grown recently as JPMorgan has been unwinding its positions.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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