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US stocks reversed early gains on Thursday

Wall Street and FTSE head lower as JPM boss issues US stock market warning

Thu, Oct. 9, 2025
The U.S. stocks
The U.S. stocks

US stocks reversed early gains on Thursday as investors paused to assess comments from JPMorgan (JPM) boss Jamie Dimon who warned about risks of a US stock market fall. Meanwhile, the FTSE 100 (^FTSE) and European stocks were mixed on the day.

Echoing the Bank of England on Wednesday, Dimon said he is "far more worried than others" about a serious market correction, which could come in the next six months to two years.

Speaking to the BBC, Dimon said a “lot of things out there” are creating an atmosphere of uncertainty, such as geopolitical risks, government spending, and the remilitarisation of the world.

"All these things cause a lot of issues that we don’t know how to answer. So I say the level of uncertainty should be higher in most people’s minds than what I would call normal.”

He added that he was concerned that the US stock market is overheated.

“People talk about stockpiling things like crypto, I always say we should be stockpiling bullets, guns and bombs. The world’s a much more dangerous place, and I’d rather have safety than not.”