(NEW YORK) — It was a rollercoaster ride for the markets Wednesday, but stocks finished the session in the minus column.
Though the Dow inched up above 12,598 for a brief period, it eventually closed down 77 points at 12,496. The Nasdaq lost 24 points, and the S&P gave up 9 points to end the day.
JPMorgan Chase stock closed up slightly, climbing 1.57 percent. The company’s CEO, James Dimon, was grilled Wednesday by a Senate committee over a $2 billion trading loss. Banks were more hopeful that the JPMorgan incident would not produce more harsh regulations after Wednesday’s hearing proved to be less heated than some thought it would be.
Copyright 2012 ABC News Radio
Tara Bench, KSL.com
Cristina Alesci Seth Fiegerman and Charles Riley, CNN
Brian Stelter, CNN Money
David Goldman, CNN