U.S. recession 'almost inevitable' -investment banker

STORY: Private banking firm TS Lombard and Bank of America on Friday both said they now expect the U.S. to enter recession later this year.

On Thursday, shares of JPMorgan Chase & Co fell after Jamie Dimon struck a cautious note on the global economy as America's largest bank reported a worse-than-expected 28% fall in quarterly profit and suspended share buybacks in the face of growing risks of a recession.