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• Jamie Dimon

• U.S. Stocks

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Jamie Dimon

JPMorgan head Jamie Dimon cautioned that newly announced trade duties may lead to higher expenses on both foreign and locally produced items, burdening an already fragile economic backdrop. In his annual message to investors, Dimon said these levies could drive up overall price levels and dampen growth. While he once defended such measures as beneficial to national interests, he now argues the fallout could be more severe and longer lasting than expected. He expressed doubts that the financial markets are fully accounting for the risks ahead, especially with continued unpredictability around trade relations. Without referencing Trump directly, Dimon acknowledged alignment with some of the administration’s aims, such as fixing trade disparities and tightening immigration oversight, but called for a balanced approach that supports long-standing international partnerships rather than abandoning them.

U.S. Stocks

U.S. stocks swung wildly Monday, ending lower for a third straight session as traders reacted to President Trump’s escalating trade threats. The Dow dropped 349 points after falling over 1,700 points intraday, marking a record-breaking 2,595-point swing. Trading volume hit a high not seen in 18 years, with over 29 billion shares traded. The S&P 500 and Nasdaq also faced sharp moves, with the S&P briefly entering bear market territory. Rumors of a tariff pause briefly lifted markets before being denied by the White House. Trump later threatened even steeper duties on China, intensifying investor concerns over a prolonged trade conflict and its economic fallout.

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