MW JPMorgan's Jamie Dimon warns there's too much complacency in markets

By Nora Redmond

JPMorgan Chase CEO Jamie Dimon says geopolitics is more complex today than during World War II.

JPMorgan Chase Chief Executive Jamie Dimon warns the tepid stock-market reaction on Monday to the U.S. and Israeli attack on Iran was just another example of the complacency in markets.

"There's kind of a lot of complacency in the market," the CEO of the U.S.'s biggest bank said in an interview with Bloomberg TV aired on Monday.

He said inflation could be one "skunk" - that prices may get stuck around 3% growth annually - but said there are other concerns including the geopolitical threats.

Dimon did acknowledge that previous threats have not made a major economic impact.

"If you look at all these wars around the world since World War II, the market reacts, but it never had a real long-term effect, other than the Israeli conflict when oil prices tripled and that went on for an extended period of time in 1973," he said.

But he argued geopolitics is a "major issue" today and much more complex than it has been since the second world war, from Russia's invasion of Ukraine to the West's relationship with China.

"There's a little bit more exuberance than there should be, but we've had years of it," Dimon said.

Dimon's wariness contrasts with his own bank's strategist.

In a note on Monday, analyst Mislav Matejka at the bank wrote that the current conflict "should ultimately be an opportunity to add," explaining that the dramatic events of the weekend will likely lead other investors to sell.

"If one is to have a time horizon longer than next days/weeks ... one should be using the weakness to add into," he said.

Oil prices advanced to their highest level since June on Monday amid increasing concerns about disruptions to global supplies.

Brent crude oil futures (BRN00), the international benchmark, rose 4.5% to $79.12 a barrel at the close, while West Texas Intermediate crude futures (CL00) rose more than 6% to $71.13, according to LSEG data.

Despite the jump, US equities rebounded from lows seen earlier in the session, with the S&P 500 SPX flatlining, and the Nasdaq Composite COMP and the Dow Jones Industrial Average DJIA both experienced modest gains.

Futures (ES00) were pointing to heavy losses on Tuesday, however.

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March 03, 2026 05:04 ET (10:04 GMT)

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