NU Online News Service, May 18, 2:57 p.m. EDT
The insurance industry held more than $1.1 billion of JPMorgan stock when the bank announced a trading loss of $2 billion on May 10, but most companies should escape any long-term fallout on their portfolios, reports SNL Financial.
JPMorgan's hard hit on one of its hedges surprised shareholders, who had long viewed the company as one of the best-managed entities on Wall Street. Almost $14.4 billion was eliminated from its market value, and shares slid again on May 14.
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