Wells Fargo plans more than 2,300 job cuts and New York-based JPMorgan may dismiss 15,000 by 2014, report Hugh Son and Dakin Campbell for Bloomberg.
Aggressive traders looking to profit from further declines in the financial services sector can consider leveraged inverse ETFs such as the ProShares UltraShort Financials (NYSEArca: SKF) and the Direxion Daily Financial Bear 3X Shares (NYSEArca: FAZ).
Financial Select Sector SPDR
ETF Trends editorial team contributed to this post.