The loss raises questions regarding JPM's risk appetite, risk management framework, practices and oversight; all key credit factors, Fitch said in a statement.
A flawed, complex, poorly reviewed, poorly executed and poorly monitoredderivatives trading strategy has cost JPMorgan Chase $2 billion in the past six weeks and the bank could face an additional $1 billion of losses in the second-quarter.
US stocks rose more than 3 percent on Wednesday as major central banks acted jointly to add liquidity to the global financial system, boosting appetite for risky assets.
Deutsche Bank's third-quarter pretax profit beat analyst expectations as retail banking and asset management helped offset investment banking profits stunted as the euro zone crisis hurt client activity.
Threat of compensation slashes and layoffs might spell shorter lines at luxury shops like Saks Fifth Avenue and will make the finance industry think twice before plunking down $200,000 to reserve a three-month summer rental for 2012.
Goldman Sachs Group's bonuses are set to drop at least 20 percent this year and experts warn plunging revenue could push pay for the year even lower.