The New York Post reports that there have been rumblings of hiring freezes and possibly layoffs at financial institutions.
As the enthusiasm for mergers, initial public offerings, and other significant corporate transactions has been severely dampened by rising interest rates and recession fears.
Geopolitical tensions, along with supply chain disruptions, increased volatility, and increasing uncertainty regarding interest rate increase’s timing and severity,
Have quickly converted a recent boom into a collapse.
Some of the top U.S. lenders’ results already reflect the hardship.
On Thursday, JPMorgan Chase & Co. announced that it has decided to halt share repurchases due to a 54% decline in investment banking fees as a result of sudden market changes.
