🔴 JPM is trading 3.2% down today as hot PPI data fuels rate concerns and a broader market selloff

JPM is trading at $296.47 (-3.2%) as broader markets decline sharply following a hotter-than-expected Producer Price Index report.

• Headline PPI rose 0.5% versus 0.3% forecast, while Core PPI surged 0.8% versus 0.3% expected, intensifying concerns that the Federal Reserve will maintain higher interest rates longer.
• The decline follows a technical breakdown below the $300 support level on February 23, with the stock falling in line with a broader financial sector selloff and losses in the S&P 500 and Nasdaq.
• Investor sentiment remains weighed down by the bank's rising expense guidance and ongoing concerns regarding the lack of transparency surrounding its significant AI spending.