Jpmorgan Chase & Co. shares fall 3.22% intraday after HSBC downgrades stock rating to 'underweight' and ahead of Q2 earnings report.

Jpmorgan Chase & Co. fell 3.22% intraday, following HSBC's downgrade of the stock from 'hold' to 'reduce' as part of a broader downgrade of the banking sector, and ahead of the company's Q2 earnings report on July 15, where earnings per share are expected to decline to $4.47 from over $6 last year due to lower investment banking fees and increased industry uncertainty.