"US Economy is weakening 📉"

said JPMorgan Chase boss Jamie Dimon.

Welcome to Fintech Wire — your quick guide to what’s shaping finance and tech today.

What we’ll cover today:

📉 Jamie Dimon says the U.S. economy is losing steam

💼 Jobs revised down by 911,000, biggest cut in 20 years

💸 Klarna’s $15B IPO takes Wall Street by surprise

JPMorgan Chase boss Jamie Dimon says the U.S. economy is losing steam after a big jobs report revision shocked everyone.

🚨 Breaking News:
The Labor Department cut job numbers by 911,000, the biggest downward revision in 20+ years, making recession fears louder.

⚡ Wire Simplified

  • U.S. added fewer jobs than first reported, almost a million less.

  • July saw just 73,000 jobs added.

  • August? Only 22,000 jobs, basically a classroom of new hires.

  • Jamie Dimon: “Economy is weakening, but let’s see what happens.”

  • Fed likely to cut rates this month, but it may not fix much.

✔️ Straight to the Point
The U.S. economy feels shaky. Dimon’s warning adds weight, but nobody knows if this is a slowdown snack or full-course recession.

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Klarna, the Swedish “buy now, pay later” star, just went public on Wall Street with a bigger price tag than expected.

🚨 Breaking News:
Klarna priced its IPO at $40 per share, raising $1.37 billion and valuing the company at $15 billion.

⚡ Wire Simplified

  • Klarna lists on NYSE under ticker “KLAR.”

  • IPO priced above expected range.

  • Investors are hyped after recent IPO successes like Circle and Figma.

  • Klarna posted a $53M loss last quarter, but revenue jumped 20%.

  • Of $1.37B raised, only $200M goes to Klarna, rest to early shareholders cashing out.

✔️ Straight to the Point
Klarna’s IPO shows investors are hungry for fintech bets, even if profits are missing. Wall Street’s in the mood for risk.

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