Wells Fargo Eclipsed by JPMorgan as World’s Most Valuable Bank

September 13, 2016 8:26 PM

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Wells Fargo & Co. lost its title as the world’s most valuable bank to JPMorgan Chase & Co.

Wells Fargo, which is grappling with the fallout from claims that its employees created fake customer accounts, slumped 3.3 percent to close at $46.96 Tuesday in New York. That reduced the firm’s market value to $236.9 billion, compared with $240.3 billion for New York-based JPMorgan.

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