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Wall Street banks go into earnings season under a cloud of rising costs

The largest US banks report earnings this week under pressure to rein in ballooning costs, with Wall Street lenders being squeezed by rising pay and heaving spending on technology to compete with fintech challengers.

Both JPMorgan Chase and Bank of America, two industry bellwethers, have already raised their outlooks for expenses multiple times for this year. Now costs have emerged as “a great wild card for the quarter and for the outlook” of the industry, says John McDonald, senior analyst for large-cap banks at Autonomous Research.

For the third quarter, analysts expect bank earnings will be propped up by fees

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Wall Street stumbles on rising Treasury yields, inflation worries

A street sign is seen in front of the New York Stock Exchange on Wall Street in New York, February 10, 2009. REUTERS/Eric Thayer/File Photo

NEW YORK, Sept 28 (Reuters) – Wall Street stocks ended sharply lower on Tuesday in a broad sell-off driven by rising U.S. Treasury yields, deepening concerns over persistent inflation, and contentious debt ceiling negotiations in Washington.

All three major U.S. stock indexes slid nearly 2% or more, with interest rate sensitive tech and tech-adjacent stocks weighing heaviest as investors lost their risk appetite.

The S&P 500 index (.SPX) and the Nasdaq Composite index (.IXIC) were

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