The Four Biggest U.S. Banks Top $1 Trillion

The four biggest U.S. banks were on record versus China’s this month, as JPMorgan Chase & Co., Wells Fargo & Co., Bank of America Corp. and Citigroup Inc. rallied 30 percent since Donald Trump was elected president. The American quartet’s combined market value closed above $1 trillion for the first time last month, a milestone Industrial & Commercial Bank Ltd., China Construction Bank Corp., Bank of China Ltd. and Agricultural Bank of China Ltd. surpassed in 2015. The four Chinese banks, the world’s most profitable, were worth about the same as the U.S. foursome as recently as June.