Investing.com -- Shares of JPMorgan Chase & Co (NYSE: JPM ) fell by as much 1.7% Monday as the bank provided cautious guidance for its second-quarter earnings. During the bank’s Investor Day, Troy Rohrbaugh, Head of Global Markets, indicated that investment banking fees are expected to decline by a mid-teens percentage, with the caveat that market volatility and uncertain conditions make accurate predictions challenging.

The bank’s cautious outlook also affected its peers, with Morgan Stanley (NYSE: MS ) and Goldman Sachs Group Inc (NYSE: GS ) seeing declines of 2% and 2.8%, respectively. JPMorgan’s guidance reflects an industry-wide trend of moderating market activity following a strong start to the quarter.

Rohrbaugh’s comments during the event highlighted a decrease in investment banking fees compared to the same period last year, while growth in markets is anticipated to be in the mid to high single digits on a year-on-year (YoY) basis. However, he emphasized the difficulty of forecasting in the current economic climate, citing "a very uncertain market and uncertain environment."

"So in investment banking, we expect the second quarter IB fees to be down mid-teens plus or minus year on year, depending on how the remainder of the quarter plays out. And in markets, we had a strong start to the quarter. However, volatility has moderated. As of today, we expect growth in the mid to high single digits year on year. But keep in mind for both markets and investment banking, we’re operating in a very uncertain market and in certain uncertain environment, which makes forecasting quite difficult," said Rohrbaugh.

The banking sector has been navigating a complex landscape with fluctuating interest rates and varying levels of client activity, which directly impacts investment banking fees and market performance.