JPMorgan Shares Are Suddenly Tanking. What Gives?
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By Matthew Benjamin – Dec 12, 2025 at 12:05PMKey PointsThe banking behemoth sees higher-than-expected expenses in 2026.Investment banking fees may come in a bit lower in the fourth quarter.These 10 Stocks Could Mint the Next Wave of Millionaires ›NYSE: JPMJPMorgan ChaseMarket Cap$864BToday's Changeangle-down(0.47%) $1.49Current Price$318.87Price as of December 12, 2025 at 12:42 PM ETA top bank executive delivered some bad news at a conference.JPMorgan Chase's (JPM +0.47%) has been enjoying a solid 2025, with the share price up an impressive 31% this year through Monday of this week (Dec. 8). But on Tuesday, the bank's shares tumbled almost 4%, a steep drop in just one trading day. The plunge was the result of remarks made by Marianne Lake, JPMorgan's CEO of Consumer & Community Banking and a member of the bank's Operating Committee, at a financial services conference hosted by rival Goldman Sachs. ExpandNYSE: JPMJPMorgan ChaseToday's Change(0.47%) $1.49Current Price$318.87Key Data PointsMarket Cap$864BDay's Range$316.60 - $320.2752wk Range$202.16 - $322.25Volume3.5MAvg Vol8.7MGross Margin0.00%Dividend Yield1.75% Lake told attendees that the bank expects higher-than-projected expenses in 2026. She said expenses will likely hit $105 billion next year, about 9% higher than 2025 and $4 billion above the average outlook of $101 billion. Lake said that things like employee compensation, marketing, new branches, and investments in artificial intelligence (AI) are driving costs higher. Customers look a bit more fragile suddenly Lake also told the conference that, while consumers and small businesses that her division serves continue to look healthy, there is "a little bit more fragile" environment right now and perhaps less capacity for these customers to deal with added financial stresses. Image source: Getty Images. As for investment banking fees, Lake said they could see growth in the low single digits in the fourth quarter, which sounds lower than the 6% or more analysts have been expecting.Advertisement JPMorgan stock has climbed over the past three years, more than doubling since December 2022. Hopefully for the company's shareholders, this latest setback is just a blip.About the AuthorMatthew Benjamin is a contributing Motley Fool stock market and investing analyst covering publicly-traded companies across all sectors. Prior to The Motley Fool, Matt was a senior markets expert at an investing newsletter in Baltimore, an editorial consultant to the World Bank and the International Monetary Fund (IMF), and an economics correspondent at Bloomberg News. He holds a B.A. from Bucknell University and an M.A. from New York University. Fun fact: Matt has met every Federal Reserve Chair from Paul Volcker through Jerome Powell.TMFMbenjamin68Read NextDec 12, 2025 •By Jason HallEnough About Berkshire: Is Jamie Dimon Grabbing Todd Combs a Coup for JPMorgan Chase?Dec 11, 2025 •By Courtney Carlsen3 Bank Stocks You'll Want to Own in 2026Nov 12, 2025 •By Jennifer SaibilThe Best Bank Stock to Hold in Uncertain TimesNov 12, 2025 •By Daniel FoelberPrediction: This Dividend-Paying Value Stock Will Join Berkshire Hathaway in the $1 Trillion Club Before WalmartOct 23, 2025 •By James BrumleyHere's What JPMorgan Chase Investors Need to Know About CEO Jamie Dimon's "Security and Resiliency Initiative"Oct 18, 2025 •By Matt Frankel, CFPJamie Dimon Just Gave a Big Warning to Stock Market Investors