Jamie Dimon's Latest Warning Sends Shockwaves Through Wall Street. History Is Very Clear About What Happens Next.
Dimon said he wouldn't do one thing in particular right now.
Overview
Stocks have soared over the past few years amid enthusiasm about artificial intelligence (AI) and its ability to transform the way many things are done. As investors rushed to get in on AI stocks, major benchmarks have climbed. The S&P 500 has advanced 78% over the past three calendar years, and the Dow Jones Industrial Average recently surpassed the level of 53,000 for the first time ever.
Of course, there has been some hesitation in the market as investors considered the ongoing turmoil in Iran and rising inflation in the U.S. and questioned whether the high levels of spending on the AI build-out would yield rewards. But, in general, stocks have continued to march higher.
Details
Against this backdrop, Jamie Dimon, chief executive officer at JPMorgan Chase, this week sent shockwaves through Wall Street with a warning. And history is very clear about what happens next.
Source
Originally published at www.fool.com.