Financial Winners and Losers: JPMorgan Chase

Financial stocks slid Friday, as President Barack Obama set to meet with bank CEOs about the administration's plans to shore up the financial system.
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Updated from 3:03 p.m. EDT

Financial stocks extended losses Friday, after

JPMorgan Chase

(JPM) - Get Report

CEO Jamie Dimon said March has been "a little tough" in a television interview following a White House meeting with President Barack Obama and 14 other bank CEOs.

Stocks had been sliding all day, as investors took profits following Thursday's rally, but after Dimon's comments in a

CNBC

interview, the NYSE Financial Sector Index closed down 3.6% to 2,954.

Obama

summoned the CEOs to discuss the administration's plans to shore up the financial system. Press Secretary Robert Gibbs said Obama urged the executives to deal with the bad assets they own so they can resume lending money to businesses and consumers.

Gibbs says the president emphasized that Wall Street needs Main Street and vice versa. The meeting comes as the industry has come under fire from the public and politicians over bonus payments made to executives at bailed out companies like

AIG

(AIG) - Get Report

.

JPMorgan shares closed down 5.8% to $2740.

Citigroup

(C) - Get Report

shares closed 6.8% lower to $2.62.

Bank of America

(BAC) - Get Report

shares finished off 3.2% to $7.342.

Wells Fargo

(WFC) - Get Report

shares closed down 2.3% to $15.59.

Goldman Sachs

(GS) - Get Report

shares finished off 3.5% to $108.08 and

Morgan Stanley

(MS) - Get Report

fell 5.1% to $24.35.

State Street

(STT) - Get Report

was among the few winners, as the stock added 1.6% to $30.61.

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