JPMorgan CEO Warns of Recession Due to Tariffs

Jamie Dimon, the Chief Executive Officer of JPMorgan Chase & Co, expressed concerns on Wednesday about the potential for a recession stemming from President Donald Trump's tariff policies and the escalating global trade war.

"I think probably that's a likely outcome," Dimon stated during an interview with Fox Business Network. He elaborated on the impact of market volatility, citing a significant drop in the Dow Jones Industrial Average as a self-feeding cycle of decline.

Market Reactions and Corporate Responses

Dimon further explained that the markets are accurately reflecting the current uncertainty at both macro and micro levels, affecting company operations and consumer sentiment alike.

The volatility has had tangible effects, with many companies reportedly postponing or canceling their initial public offerings (IPOs) in response to the uncertain economic climate.