JPMorgan Blames Pace of Friday’s Stock Selloff on Levered ETFs
The new JPMorgan Chase & Co. offices in New York. (Bloomberg) — A run for the exits by investors in levered exchange-traded funds on Friday exacerbated the largest single-day stock market selloff since April, according to strategists at JPMorgan Chase & Co. The S&P 500 Index fell 2.7% in the rout, while the Nasdaq 100…