Shutdown would cut US growth 'to zero' if it lasts too long, JPMorgan says

JPMorgan Chase, the largest U.S. lender, warned that the U.S. government shutdown will hurt the economy more the longer it continues while rattling financial markets whose confidence took a blow at the end of last year.

Fixed-income trading revenue at the New York-based firm fell 18 percent in the last three months of 2018 as prices whipsawed, JPMorgan said Tuesday. That mirrored the 21 percent decline at rival Citigroup amid speculation about the pace of interest-rate increases and concern that a U.S. trade war with China and would hamper economic growth.