Bigger crash ahead? JPMorgan CEO Dimon says he won't buy stocks at current prices, says markets underestimating risks

JPMorgan CEO Jamie Dimon warned that markets are underestimating risks from wars in Ukraine and the Middle East, along with rising US-China tensions and escalating government deficits, and said he would not buy stocks or US Treasuries at current prices. He also flagged concerns that massive AI spending by hyperscalers may not deliver expected returns on the anticipated timetable. Separately, oil prices surged after the fragile Iran-US ceasefire broke down, with Goldman Sachs warning Brent crude could spike to around $120 per barrel if Strait of Hormuz disruptions persist.