JPMorgan (JPM) Shares Open 9% Lower; Most US Banks Down Sharply, Wells Fargo (WFC) Higher (MS) (GS) (C) (BAC)

Shares of JPMorgan (NYSE: JPM) have opened about 9 percent lower Friday morning following Thursday evening's surprise conference call and news of material mark-to-market losses. Notably, JPMorgan shares were down about 5-6 percent last night just after the news began making the rounds.

Elsewhere in the sector:

• Morgan Stanley (NYSE: MS) down 4.6 percent
  
• Goldman Sachs (NYSE: GS) down 3.7 percent
  
• Citi (NYSE: C) down 3.2 percent
  
• BofA (NYSE: BAC) down 2.3 percent
  
• Wells Fargo (NYSE: WFC) up 0.9 percent

The Financial Select Sector SPDR (NYSE: XLF) is down 1.3 percent at last check.

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