I decided to pause my 3Rs series to review one particular event of this past week. No, not the political spectrum (guilty pleas/verdicts in the US and a new PM in Australia) but the bloodbath incurred in the discount broker space following JP Morgan’s announcement of the commencement of a free trade platform. In the event you missed it, the Tuesday morning market shudder (per Seeking Alpha) was:
Online brokers slump in premarket trading after JPMorgan (NYSE:JPM) says it’s introducing a mobile investing app bundled with free or discounted trades.
JPMorgan +0.7% in premarket trading.