Consumer
Retail Traders Start to Lose Faith as Thursday Dip Buyers Burned
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The first signs of capitulation among normally bullish retail traders are showing up in data at JPMorgan Chase & Co. and Fidelity Investments.
JPMorgan reported retail orders amount to net selling of $1.5 billion as of noon Friday, the most in the first 2.5 hours of trading in its history. That came a day after the firm’s figures showed individuals were net buyers of $4.7 billion of shares, the biggest day over the past decade.