J.P. Morgan loss to rise at least 50%: report

SYDNEY (MarketWatch)
Trading losses at J.P. Morgan & Chase Co. have surpassed the bank's initial $2 billion estimate by at least $1 billion, according to report on the New York Times website Wednesday, citing people familiar with the matter
Last week, the bank's Chief Executive Jamie Dimon revealed a surprise $2 billion trading loss
The New York Times report said losses have surged in recent days, as hedge funds and other investors capitalize on J.P. Morgan's distress, fueling faster deterioration in the underlying credit-market positions held by the bank