(Reuters) -JPMorgan Chase's profit fell in the second quarter, reflecting a difficult comparison to last year when the bank had recorded a one-time accounting gain.

Profit was $14.99 billion, or $5.24 per share, for the three months ended June 30, compared with $18.15 billion, or $6.12 per share, a year earlier, the largest U.S. bank said on Tuesday.

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Market activity surged as investors seized opportunities and hedged risks in response to shifting U.S. tariff policies. The turmoil propelled trading revenue 15% higher to $8.9 billion, driven by gains in both fixed income and equities.

JPMorgan's investment banking fees rose 7% to $2.5 billion, underpinned by a rise in initial public offerings and mergers and acquisitions.

(Reporting by Niket Nishant in Bengaluru, editing by Lananh Nguyen and Anil D'Silva)

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