E.U. and U.S. stock prices fell as investor doubts over the ability of the European summit to ease and tackle the region’s dept crisis overwhelmed investor sentiment, and after the U.S. Supreme Court upheld the healthcare reform law of President Barack Obama’s administration. The banking sector slumped after several consecutive events relative to the banking sector occurred, with Barclays having the biggest drop after a fraud squad had been brought in to investigate possible crimes over attempts to manipulate lending rates. In addition, the New York Times reported that JPMorgan ‘s recent trading losses could reach $9 billion – four times he initial estimate. Read more
