New York, February 5, 2026, 18:50 EST — After-hours
JPMorgan Chase & Co shares fell 2.3% in after-hours trading on Thursday, sliding with the broader market as investors pulled back from risk. The stock last traded at $310.16 after moving between $305.65 and $317.49 during the session.
Wall Street closed sharply lower, dragged down by a renewed selloff in big technology names as investors fretted over the scale of AI spending plans. “We’re seeing this volatility about whether this investment will translate, ultimately, into results,” said Tom Hainlin, an investment strategist at U.S. Bank Wealth Management. Reuters
For lenders, the day’s pressure also followed fresh signs the job market is cooling. Weekly jobless claims rose 22,000 to 231,000 and job openings fell 386,000 to 6.542 million in December, the lowest since September 2020; “More than anything, we see the data as reflective of ongoing judicious hiring practices,” said Oren Klachkin, a financial markets economist at Nationwide. Reuters
The decline in JPMorgan tracked other major banks. Wells Fargo fell 1.2%, Citigroup slipped 1.5% and Bank of America lost 0.8%, while the Financial Select Sector SPDR Fund was down about 1.3%.
The rate outlook is also in flux after President Donald Trump’s pick of former Federal Reserve governor Kevin Warsh to succeed Jerome Powell when Powell’s term ends in May, a move that still needs Senate approval. Reuters
On the supply side, the U.S. Treasury on Wednesday said it would offer $125 billion of notes and bonds to refund maturing debt and raise about $34.8 billion in new cash, with auctions scheduled for Feb. 10-12. Shifts in long- and short-term yields can matter for bank shares because they feed into what lenders earn on loans versus what they pay for deposits. U.S. Department of the Treasury
Company-specific, a filing showed JPMorgan closed a $3 billion public offering of fixed-to-floating rate subordinated notes due 2037 on Thursday. Subordinated debt sits below other debt in the repayment line if a company runs into trouble, and is often used by big banks as part of longer-term funding. SEC
But this week’s pullback also shows how quickly sentiment can turn for banks if investors start to price a deeper growth hit: weaker hiring can dent loan demand and push credit losses higher, while falling yields can squeeze profitability even when defaults stay contained.
The next clear test for rates — and for bank stocks trading off that rate view — comes next week, with the delayed U.S. January employment report due on Wednesday, Feb. 11 at 8:30 a.m. ET, followed by the January CPI report on Friday, Feb. 13 at 8:30 a.m. ET. bls.gov
