HSBC warns of risks to world economic growth as profit dives

HONG KONG — London-based bank HSBC reported Tuesday that annual profit slumped by more than 80 percent following a year of “unexpected economic and political events” that contributed to volatile markets and influenced investment activity. Europe’s biggest bank that net profit for 2016 tumbled 82 percent to $2.5 billion from $13.5 billion a year ago.