JPMorgan CEO says trade war is reason for market volatility

Business 12/6/2018, 7:52 PM
JPMorgan CEO says trade war is reason for market volatility

JPMorgan Chase & Co. chief executive officer Jamie Dimon (pictured) said on Thursday that the main reason behind the volatility on the stock market is the trade war between Washington and Beijing, CNBC reported. Dimon noted that he does not expect the United States and China to finalize the trade talks in 90 days, adding that there is always a chance something will turn bad in the negotiations.

"Those things are just causing uncertainty, which causes volatility," Dimon stated, calling the escalating trade dispute between the US and China a trade "skirmish." He pointed out that the uncertainties related to the current trade tensions and political risks are reflected in the hectic situation on the market.

US President Donald Trump said earlier this week that the negotiations with Chinese representatives have already started and that they would end within 90 days, unless they get "extended."

JPMorgan shares traded 3.58% in the red at 7:38 pm CET.

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