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Markets were little changed after the French finance minister confirmed that Standard & Poor's had stripped the country of its triple A credit rating. After the market closed on Friday, S&P lowered the credit ratings of France, Austria, Italy, and Spain. However, Germany kept its triple A rating.
In New York, the broad-based S&P 500 lost 6.41, or 0.49 percent, to 1,289.09 points.
The tech-heavy Nasdaq Composite index fell 14.03, or 0.51 percent, to 2,710.67 points.
JPMorgan's stock fell 4 percent to $35.28 in early trading. Profits fell from $4.8 billion in the fourth quarter of 2010 to $3.7 billion last year.