Market Watch: Stocks Could Fall 'Another Easy 20%' and Next Drop Will Be 'Much More Painful Than the First', Jamie Dimon Says

Article by Joseph Adinolfi in Market Watch

JPMorgan Chase & Co. CEO Jamie Dimon warned investors on Monday that he expects markets to remain volatile for the foreseeable future, and that the S&P 500 could easily fall another 20% as the Federal Reserve continues to raise interest rates.

Asked by CNBC about where he expects stocks to bottom, Dimon said he couldn’t say for sure, but that it’s easy to imagine the S&P 500 falling by another 20% as volatile markets become even more “disorderly” as rates continue to climb.

“It may have a ways to go. The next 20% could be much more painful than the first. Rates going up another 100 basis points will be a lot more painful than the first 100 because people aren’t used to it, and I think negative rates, when all is said and done, will have been a complete failure.”

An eventual economic downturn in the U.S. could .......

To read this article in Market watch in its entirety, click here.