JPMorgan CEO Warns of Recession Due to Tariffs

Jamie Dimon, the CEO of JPMorgan Chase & Co, has issued a stark warning about the potential economic fallout from President Donald Trump's tariff policies. In a recent interview with Fox Business Network, Dimon suggested that a recession is "a likely outcome" of the escalating global trade war.

Market Reactions and Volatility

Dimon pointed to the significant market volatility, including a 2,000-point decline in the Dow Jones Industrial Average, as evidence of the uncertainty and fear gripping investors. "Markets are right in this situation," he said, "they're just pricing uncertainty at the macro level and at the actual company level."

Impact on Companies and IPOs

The JPMorgan CEO also highlighted the serious implications for businesses, noting that many companies have been forced to cancel their initial public offerings (IPOs) due to the unpredictable economic climate caused by tariff concerns.