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Jamie Dimon, the top boss of the largest bank in the United States said the chances of the U.S. stock market crashing is far greater than many financiers believe.
In an interview with the BBC, the CEO of JPMorgan Chase & Co. (NYSE:JPM) said he was "far more worried than others" about a serious market correction, which he predicted could come in the next six months to two years.
Dimon's comments are closely watched by markets, more so because of his hot takes on the economy. Earlier this week, he said a recession could still occur in 2026 and that he was a “little more worried about inflation.”
Kristalina Georgieva, the head of the International Monetary Fund told CNBC on Wednesday that the ‘cloud of uncertainty’ was not going away anytime soon.
“We need to get accustomed to operating with uncertainty as the new normal,” Georgieva said.
These comments come amid a series of warnings about a potential stock market correction.
The Bank of England warned this week that the loss of confidence in the U.S. Federal Reserve’s independence or a reversal in AI-driven market optimism could trigger a global selloff.
Dimon told the BBC that the US had become a “less reliable” partner on the world stage, but insisted he thought the Federal Reserve would remain independent, despite repeated attacks by the Trump administration on its chair Jerome Powell.
He also pointed to risk factors like the geopolitical environment, fiscal spending and the remilitarisation of the world.
Dimon added that some of the money being invested in AI would "probably be lost".
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and the Nasdaq 100 index, respectively, opened lower on Thursday. The SPY was down 0.22% at $671.62, while the QQQ declined 0.16% to $610.48, according to Benzinga Pro data.
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