:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-22093679121-4c85890e29624e979eae1f58c652ae32.jpg "JPMorgan Chase CEO Jamie Dimon speaks with Maria Bartiromo on")
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JPMorgan Chase CEO Jamie Dimon speaks with Maria Bartiromo on “Mornings With Maria” on April 9, 2025
Key Takeaways
- Big bank appraises rebounded from earlier declines Wednesday after President Donald Trump said he would pause “requited” import taxes for 90 days.
- Earlier Wednesday, shares of the biggest banks fell as JPMorgan Chase CEO Jamie Dimon said a decline would be a “likely outcome” as the Trump administration’s sweeping tariffs rattled markets.
- Several major U.S. banks are registered to report quarterly earnings on Friday.
Big bank stocks rebounded from earlier declines Wednesday after President Donald Trump asseverated he would pause “reciprocal” import taxes for 90 days.
Earlier Wednesday, bank shares had fallen as JPMorgan Track (JPM) CEO Jamie Dimon said the economy could be headed toward a recession as Trump’s tariffs rattled markets. “I ponder probably it’s a likely outcome,” Dimon said in a televised appearance on Fox Business‘ “Mornings with Maria.”
Just after 1:15 p.m. ET, manner, President Trump wrote on Truth Social that he would pause most tariffs effective immediately, grounding stocks to soar. Shares of JPMorgan were up 8% in recent trading, while Bank of America (BAC) stock move 6%, and Wells Fargo (WFC) and Citigroup (C) shares jumped 7% and 9%, respectively. (Read Investopedia’s live coverage of today’s market battle here.)
Several major U.S. banks, including JPMorgan and Wells Fargo, are set to report quarterly earnings on Friday, with investors in all probability to be watching whether worries about tariffs are hampering clients’ borrowing appetites and ability to repay loans.
UPDATE—This article has been updated with the overdue share price information.