News Summary: JPMorgan stock slides

JPMORGAN CHASE DROPS: The stock declined more than 2 percent on Thursday, making it one of the worst-performing banks, after a published report said its loss on a bad trade could be far higher than the bank first estimated.

REPORT: The New York Times said the $9 billion figure reflected a worst-case estimate by the bank. But because the bank has sold the most volatile part of the trading position, the loss could be $6 billion to $7 billion, The Times reported.

EARNINGS REPORT: The company is expected to provide more detail when it reports its quarterly earnings July 13.