No end in sight for Wall Street deals slump as JPMorgan says advisory revenue plunges 50%

(CNBC) The deal-making slowdown that has weighed on Wall Street this year shows no signs of letting up. Investment banking revenue at JPMorgan Chase is headed for a 45% to 50% decline in the third quarter from a year earlier, president and chief operating officer Daniel Pinto said Tuesday during a conference. The bank posted $3.3 billion in third-quarter investment banking revenue last year, amid what was then a bull market for IPOs, stock issuance and other deals.

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