JPMorgan's Dimon warns of rising geopolitical risks amid Middle East conflicts

JPMorgan Chase CEO Jamie Dimon warned that geopolitical risks are increasing due to ongoing conflicts in the Middle East and the persistent war in Ukraine. He described the current situation as "treacherous and getting worse" in the bank's third-quarter earnings report. Dimon highlighted the significant human suffering caused by these conflicts and noted that they could have lasting impacts on the economy and global stability. He emphasized the need for strong leadership from the U.S. and Western nations to address these challenges. In recent developments, the conflict between Israel and Hamas continues with rising casualties, while Russia has increased its defense budget amid its ongoing invasion of Ukraine. Dimon expressed concerns about the economy, citing issues like fiscal deficits and trade restructuring, despite some positive signs.