The Dow Jones (DJIA) is trading slightly higher on Thursday following a stark warning from JPMorgan Chase’s (JPM) CEO.
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Jamie Dimon is “far more worried than others” about a stock market correction as AI companies continue to lead the charge higher. “So if the market is pricing in 10%, I would say it’s more like 30%, and I’m not saying next year because the timing of these things is almost impossible,” said Dimon in an interview with BBC.
Dimon Backs AI amid Rising Economic Risks
Dimon is a believer in AI but warns that previous technological advances, like cars and televisions, show that “most people involved in them didn’t do well.”
While Dimon is only a “little worried” about inflation, other factors, like geopolitical tensions and fiscal spending, could boost uncertainty and take a toll on the economy. “”So I say the level of uncertainty should be higher in most people’s minds than what I would call normal,” he said.
Last month, Dimon warned that the full impact of the Trump administration’s tariffs is yet to be felt by the U.S. economy and urged a cautious outlook.
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