JPMorgan Chase warns that US stocks could fall by 10% due to the Middle East conflict, and the market is not yet prepared.

CoinFeed reported on March 9th that JPMorgan Chase's trading division stated that a war with Iran could trigger a drop of up to 10% in the S&P 500 from its highs, and US stock traders are not yet prepared for this. Andrew Tyler, JPMorgan's global head of market intelligence, said on Monday that he has turned "tactically bearish" on US stocks due to the lack of signs of easing in the Middle East conflict and oil prices breaking through $100 per barrel. A pullback would mean the S&P 500 would fall 10% from its highs to approximately 6270 points, about 7% lower than Friday's closing level. Tyler stated that investors' current positioning is not prepared for a decline, with "current positioning generally neutral and lacking extreme risk-averse operations." Energy stocks were net sold off last week as traders "expected a de-escalation."