New York, March 2, 2026, 13:23 EST — Regular session
- JPMorgan shares traded lower in midday New York dealing after a volatile open.
- Middle East conflict headlines lifted oil and stirred fresh inflation and dealmaking worries.
- Investors are watching oil-supply signals and Friday’s U.S. jobs report for the next nudge.
JPMorgan Chase & Co (JPM.N) shares were down 0.47% at $298.89 in midday trade, after sliding as much as 2.35% earlier in the session. The stock opened at $295.15 and has traded between $293.23 and $299.98. 1
The drift lower comes as broader markets wrestle with a jump in crude and the risk that a prolonged Middle East conflict reignites inflation pressure. “At times when there is nervousness, people will go to the leaders in the market,” said Joe Saluzzi, co-head of equity trading at Themis Trading. 2
JPMorgan and Citigroup employees in the Middle East have been asked to work from home as tensions escalated, two sources familiar with the matter told Reuters. Citigroup said it was taking steps to keep employees and their families safe, while industry sources have warned the conflict could disrupt planned capital market fundraisings and cross-border deals as travel curbs spread. 3
The KBW Bank index — a gauge of U.S. lenders — was up about 0.9% in midday trade, even as JPMorgan lagged some peers after the early drop. 4
Troy Rohrbaugh, co-head of JPMorgan’s commercial and investment banking business, warned that the selloff mindset may not be done yet. “People are in a sell first, figure it out later mode,” he said on Monday at the firm’s global leveraged-finance conference in Miami, according to Bloomberg. 5
The mood has been fragile for weeks as investors debate where artificial intelligence helps — and where it breaks things. “There continues to be this … back and forth about who might be the victim and those that will actually emerge winners,” Kristina Hooper, chief market strategist at Man Group, said. 6
Friday brings a cleaner read on the economy: the U.S. employment report for February is scheduled for March 6 at 8:30 a.m., according to the Labor Department’s release calendar. Markets often use the jobs report to reset bets on the Federal Reserve’s next move on rates. 7
Oil is the other dial. Citi sees Brent trading between $80 and $90 a barrel over the coming week, while JPMorgan estimates crude exports through the Strait of Hormuz have slumped to about 4 million barrels per day from the usual 16 million, Reuters reported. 8
In a separate SEC filing, JPMorgan laid out terms for callable fixed-rate notes due March 5, 2031, carrying a 4.00% coupon with a March 2 pricing date.
But this can turn fast. If the conflict drags on and energy stays elevated, the upside from higher rates can get swamped by weaker loan demand, higher credit losses and a slower pipeline for underwriting and mergers.
For JPMorgan, the next company checkpoint is April 14, when it is scheduled to release first-quarter results around 6:45 a.m. Eastern and host a conference call at 8:30 a.m., the bank said. 9
