Stock Movers JPMorgan Plunges, Meta Falls, Airlines Lower
Jan 13, 2026
JPMorgan Chase faced a 4.2% drop as profit declined, raising concerns over a proposed credit card rate cap. Meta is cutting over 1,000 jobs in its Reality Labs division, shifting focus from the metaverse to AI wearables. Meanwhile, Delta Air Lines provided a cautious profit forecast for 2026, contributing to a 1.5% decline in its stock. Overall, the discussions highlight significant challenges across major sectors and the market's response to these shifting dynamics.
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JPMorgan Profit Drops Amid Fee Weakness
- JPMorgan's Q4 profit fell despite higher revenue due to weaker investment banking fees and shifted deals.
- Markets also reacted to political risk after President Trump's proposed 10% cap on credit card rates.
Rate-Cap Proposal Raises Regulatory Risk
- Political proposals on capping credit card rates introduced regulatory risk that could 'significantly change' banks' businesses.
- Jamie Dimon warned that such caps would harm large banks and customers by reducing revenue and altering incentives.
Meta Shifts From Metaverse To AI
- Meta cut about 1,000 jobs in Reality Labs and is shifting resources from metaverse projects to AI wearables and phone features.
- The metaverse push failed to meet expectations, so Meta pivots toward AI where investor interest is stronger.