Jamie Dimon says market risks are 'bigger than other people think' – and he's not buying stocks right now

Jamie Dimon is getting much bearish connected the banal market.

The CEO of JPMorgan Chase (NYSE:JPM) and 1 of the astir influential voices successful concern says helium would not bargain either stocks oregon U. S. Treasuries astatine existent prices. And investors, helium added, are ignoring immoderate important threats to the market.

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In an extended speech with CNBC, Dimon pointed to increasing geopolitical tensions astir the world, including the U.S.-Iran warfare and the ongoing warfare successful Ukraine.

"I bash deliberation those risks are astir apt bigger than different radical think," Dimon said

Investors, seemingly, are downplaying the conflicts and person been for immoderate time. The Dow is up astir 8% twelvemonth to date, the S&P 500 is up astir 10% and the Nasdaq scale has gained astir 11%. Dimon acknowledged that immoderate concerns astir the wars arsenic they basal present whitethorn beryllium already baked into the markets. His fear, helium said, is immoderate different trigger that has not yet occurred.

"It's imaginable something's baked in, but what's not baked successful is what really happens," helium said.

A looming crisis?

Dimon has been informing astir the markets for immoderate clip now. In May, portion speaking astatine an concern league successful Oslo, Norway, helium said, "The mode it's going now, determination volition beryllium immoderate benignant of enslaved crisis, and past we'll person to woody with it."

Dimon cited respective reasons for that prediction, including geopolitical events, which helium expects to summation the outgo of lipid and different energies, arsenic good arsenic defence production. Higher lipid prices stoke inflation. And arsenic authorities deficits proceed to rise, helium said, that tin marque investors successful authorities bonds suffer confidence.

Last year, Dimon predicted a coming "crack" successful the enslaved market, saying, "It is going to happen. And I archer this to my regulators, immoderate of you who are successful this room, I'm telling you it's going to happen, and you're going to panic."

And successful an October interrogation with the BBC, Dimon said helium was "far much disquieted than others" astir a superior marketplace correction. While helium declined to enactment an nonstop timeline connected his bearish prediction, helium said it could travel anyplace from six months to 2 years from now.

"I accidental the level of uncertainty should beryllium higher successful astir people's minds than what I would telephone normal," helium said astatine the time.