Wall Street dips as JPMorgan leads bank stocks lower

By Sruthi Shankar(Reuters) - Banks led a drop in U.S. stocks on Friday, as results from big lenders including JPMorgan failed to enthuse investors keeping a wary eye on Russia's plan to consider banning some U.S. imports.

Shares of the biggest U.S. bank by assets dropped about 3 percent, overturning an initial gain in premarket trading when the bank reported a record quarterly profit that fell slightly short of expectations.Wells Fargo sank 3.3 percent after the bank said it may have to pay a penalty of $1 billion to resolve investigations, while.

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