Marianne Lake of J.P. Morgan Chase said the bank is expected to spend $105 billion next year. This outlook exceeded analysts' expectations, causing its stock price to fall on Tuesday. Lake said at a Goldman Sachs Group meeting on Tuesday that the biggest driver of expected cost increases is “expenses associated with business volume and growth.” She also mentioned strategic investments and “the structural consequences of inflation.” At 2 p.m. on Tuesday, J.P. Morgan's stock price fell 4.3% to $301.72, the biggest intraday decline since mid-October and became the worst performing stock in the KBW Bank Index.

Marianne Lake of J.P. Morgan Chase said the bank is expected to spend $105 billion next year. This outlook exceeded analysts' expectations, causing its stock price to fall on Tuesday. Lake said at a Goldman Sachs Group meeting on Tuesday that the biggest driver of expected cost increases is “expenses associated with business volume and growth.” She also mentioned strategic investments and “the structural consequences of inflation.” At 2 p.m. on Tuesday, J.P. Morgan's stock price fell 4.3% to $301.72, the biggest intraday decline since mid-October and became the worst performing stock in the KBW Bank Index.