JPMorgan CEO: the outcome of the war with Iran is more important to markets than short-term dynamics
The head of JPMorgan believes that the successful outcome of the war with Iran is more important than the reaction of the markets / Photo: FotoField / Shutterstock
JPMorgan CEO Jamie Dimon told Fox News that U.S. stock markets will remain under pressure until the war with Iran is over, despite the resilience of the U.S. economy. But it is much more important that the operation ends successfully than what happens in the stock markets, Dimon said.
"Markets are unpredictable and it's hard for me to accurately predict the consequences. But I think they are assessing the risk that something could go wrong. We all have to hope that that doesn't happen - that the conflict ends in victory, the situation in the [Strait of Hormuz] is resolved, and Iran is no longer a threat. The markets will be concerned until this is over," he said.
In trading on March 31, major U.S. indexes soared in hopes of de-escalation, recouping some of the losses accumulated during the month-long war.
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