Home›US Markets›Equities›Jamie Dimon says market risks are bigger than investor…

Jamie Dimon says market risks are bigger than investors expect

JPMorgan CEO Jamie Dimon said he would not buy stocks or U.S. Treasuries at current prices, citing geopolitical tensions and the risk of a future trigger not yet priced in.

Tuesday, July 21, 2026 · Written up by our desk · Equities

JPMorgan Chase CEO Jamie Dimon told CNBC he is more bearish on the stock market than many investors, saying he would not buy stocks or U.S. Treasuries at current prices. He warned that investors appear to be overlooking significant market threats.

Dimon pointed to geopolitical tensions, including the U.S.-Iran war and the ongoing war in Ukraine, arguing that investors may have already priced in some concerns but not the next shock. He said it is possible that current scenarios are baked in, but what matters is what happens beyond them.

He also reiterated earlier warnings about bond-market stress, saying in a prior comment that “there will be some kind of bond crisis.” Dimon linked his concern to rising geopolitical pressures that could increase oil and other energy costs, which can stoke inflation, and to growing government deficits that he said could undermine confidence in government bonds.

Despite the market being up year to date, he said the key issue is elevated uncertainty rather than today’s price action, noting the Dow is up nearly 8% year to date, the S&P 500 is up around 10%, and the Nasdaq has gained about 11%. He declined to set a precise timeline for when risks could materialize, previously saying it could come anywhere from six months to two years from when he made a similar warning.

Latest closeS&P 500 7,533.77 ▼0.5%|Nasdaq Comp. 25,881.95 ▼1.5%|Dow Jones 52,552.97 ▼0.2%

More like this

Sources