JP Morgan says more market meltdowns like December rout are inevitable

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Since institutions must hold more capital and take less risk, there are fewer big players to step in when declines push equities to attractive valuations. The moves are exacerbated by hedge funds employing computerized momentum-based strategies, resulting in corrections that are “faster and deeper,” he said.

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“This is not necessarily an unintended impact,” Pinto said. “Regulators wanted to create a system that is…

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