$JPM 👀 pic.twitter.com/I9AEkddf7K
— Godzilla Trader 🦖 (@David_Tracey) December 9, 2025
JPMorgan shares drop as bank warns of fragile consumers, higher costs
Investing.com — JPMorgan Chase (NYSE:JPM) stock fell 4.3% by 2 pm Tuesday after the bank’s consumer and community banking CEO Marianne Lake warned of a “bit more fragile” consumer environment and projected higher-than-expected expenses for 2026.
Speaking at the Goldman Sachs financial services conference, Lake said JPMorgan expects expenses to climb to about $105 billion in 2026, driven largely by growth and volume-related costs. This guidance exceeds the highest analyst estimate in a Bloomberg survey and surpasses the average outlook of $101 billion. The projected costs would be approximately 9% higher than what analysts expect for 2025.
Lake’s cautious comments about consumer health and higher expenses weighed on the broader banking sector, with Citigroup (NYSE:C) and Bank of America (NYSE:BAC) shares trading lower by 1%.
JPMorgan Stock Tumbles on Expense Outlook. It’s the Worst Performer in the Dow.
https://www.barrons.com/articles/jpmorgan-stock-tumbles-expense-forecast-dow-bf1339ce
If consumers pull back (due to economic uncertainty or “fragile” sentiment), that could weigh on credit card business, loans, deposits — core revenue drivers for JPM.