AI may have fueled Wall Street rally, but Jamie Dimon warns a ‘little tsunami’ is heading for the economy

JPMorgan Chase CEO Jamie Dimon has warned of a 'little tsunami' heading for the global economy, citing geopolitical risks including Ukraine, Iran, oil supply shocks, and US-China tensions, even as Wall Street rallies on AI optimism. The S&P 500 is up nearly 80% and Nasdaq up over 86% over five years, fueled by around 700 billion dollars in expected AI spending this year. Despite steady US unemployment at 4.3% and GDP growth around 2%, Dimon cautioned that shifting tectonic plates could reshape the economy over coming years, urging investors to remain cautious.