Wall Street banks detailed billions of dollars in potential losses from the war in the Ukraine this week, while warning that they saw no end in sight for the market turbulence unleashed by the Russian invasion.
Industry analysts and executives described the losses as manageable, but expressed worries about the potential for spillover effects of the kind that led to the cancellation of some nickel trades on the London Metal Exchange last month.
Jamie Dimon, JPMorgan Chase chief executive, said during his bank’s first-quarter earnings report: “I cannot foresee any scenario at all where you’re not going to have a lot of volatility in markets.”
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