CEO JPMorgan Chase, Jamie Dimon, warned that the new tariff policies planned by the US government risk pushing the country towards a recession. In his annual letter to shareholders, Dimon highlighted the potential negative impacts of import tariffs, including rising inflation, slowing economic growth, and disruptions to consumer and business confidence.

The statement came amid significant market turmoil. The Dow Jones index plummeted sharply, and its effects were felt across global markets. Cryptocurrency assets also faced pressure, with Bitcoin dropping to its lowest level, trading around $76,500. Shares of companies exposed to the crypto sector, such as Coinbase and MicroStrategy, also saw declines.

Dimon emphasized that the US economy was already showing signs of weakening before these tariff policies were announced. He added that geopolitical tensions and isolationist foreign policy could further exacerbate the situation, as well as weaken the United States' global position in the long term.