JP Morgan exec warns stock markets could crash by 40%

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JPMorgan Co-President Sees Possible 40% Correction in Equity Markets

"JPMorgan Chase & Co. executive Daniel Pinto warned equity markets could fall as much as 40 percent in the next two to three years.

His comments come as investors worry over the effect of central banks raising interest rates and rising inflation. “It could be a deep correction,” said Pinto, the bank’s co-president, in an interview with Bloomberg Television on Thursday. “It could be between 20 percent to 40 percent depending on the valuation.”