Tariffs

JPMorgan Chase's CEO emphasized his concerns about geopolitical conflict and brought up recent culture shifts at the bank in his annual letter to shareholders.

"The quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse," the JPMorgan Chase & Co. CEO wrote in his annual letter to shareholders.

Wall Street continued its sell-off of financial institutions as the increasing likelihood of a U.S. recession fuels fears of revenue pressures.

President Trump's tariffs on imported vehicles threaten to drive up auto prices at a time when more car owners are already drifting into delinquency on their loans.

An aggressive suite of tariffs from President Trump will complicate the Federal Reserve's job as it struggles to quash inflation and avoid an economic downturn.

The administration's 25% import tax on cars and parts can squeeze dealerships' parts and service revenue, one of their largest profit centers. Buy now/pay later lenders could see a windfall.

Dodig, who has led the Canadian bank since 2014, will be succeeded by Harry Culham, CIBC's head of capital markets.

President Donald Trump's tariff policies will strain some banks' business customers, as their supply chains will have to be reconfigured. But uncertainty is the real headwind.

The president exempted Mexican and Canadian goods covered by the North American trade agreement from his 25% tariffs, offering reprieves to America's two largest trading partners.

Commerce Secretary Howard Lutnick said the president is likely to defer his 25% tariffs on Canada and Mexico for all goods and services covered by the North American trade agreement.