Jamie Dimon warns markets may be underestimating risks

JPMorgan Chase CEO Jamie Dimon said investors may be overlooking geopolitical and fiscal risks that could eventually weigh on markets. He pointed to wars in Ukraine and the Middle East, tensions between the U.S. and China, and rising defense spending alongside large government deficits. In an interview released Monday, Dimon said he would not buy longdated U.S. Treasurys at current prices and would also avoid broad stock market purchases at present valuations. He said it is difficult to know how much risk is already reflected in asset prices, but added that the potential impact of a shock may not be fully priced in. Dimon also said persistent U.S. budget deficits could push interest rates higher over time. On artificial intelligence, he said the current wave of spending may eventually pay off, but likely not on the timeline many investors expect.